Newsfeed Demo - Informanagement UK

Sep 17

Why outsourcing client communication saves time and money

Keeping clients informed about tax updates, regulatory changes, and business challenges is essential for any accountancy practice. Clients expect regular updates, but producing high-quality communications takes time. Researching government announcements, drafting clear copy, and distributing messages all add to an already heavy workload. This is where outsourcing client communication can... read more →

17 September 2026

Aug 17

Could better client communication generate more fees?

Most accountancy practices would like to generate more advisory work from their existing clients. The difficulty is often not a shortage of opportunities but identifying those opportunities at the right time. A client may be considering buying a property, taking on an employee, purchasing a new vehicle, selling their business... read more →

17 August 2026

Jul 15

The Hidden Cost Of Not Communicating With Clients

Most accountancy firms work hard to provide an excellent service, yet many only contact clients when a tax return is due, accounts need approval or a filing deadline is approaching. While this may seem efficient, it can have a significant hidden cost. Clients who rarely hear from their accountant often... read more →

15 July 2026

Jun 10

Coaching Clients for April 2028: The Friction Points Accountants Will Face

The 2028 Companies House accounts filing reforms present serious operational headaches for UK practitioners. While the recent delay to April 2028 gives firms breathing room, the transition introduces friction points when coaching smaller businesses through the Economic Crime and Corporate Transparency Act 2023 (ECCTA). Accountants are no longer just crunching... read more →

10 June 2026

May 15

Changes to handling client funds under CASS 15

The way firms handle client money in the UK is undergoing a notable shift with the introduction of CASS 15, a new framework from the Financial Conduct Authority that reflects the growing use of payment firms and e money institutions. For accountancy practices and their clients, particularly those using digital... read more →

15 May 2026

Apr 15

Dealing with the wider implications of MTD

While the legislative framework itself is relatively straightforward, the operational consequences of MTD are more far reaching, since clients who have historically maintained incomplete records, updated spreadsheets retrospectively, or relied heavily on their accountant at the year-end will now need to adopt processes that ensure transactions are captured accurately and... read more →

15 April 2026

Mar 20

Companies House software glitch, what advisers should be checking now

Recent reports of a software glitch at Companies House have raised understandable concerns across the advisory community. While the issue appears to have been limited in scope and quickly addressed, it serves as a timely reminder that even robust public systems are not immune to error. For accountants and other... read more →

20 March 2026

Mar 09

Accelerate Return on Investment

The speed with which a business can achieve a return on investment is often just as important as the size of the return itself. When investments begin generating benefits quickly, the financial impact can be felt much sooner, improving cash flow and strengthening overall business resilience. In periods of economic... read more →

9 March 2026

Mar 09

Reducing energy consumption

Reducing energy intensity is one of the most practical ways for small businesses to protect themselves from rising energy costs, particularly if global energy markets remain unstable because of the ongoing conflict involving Iran. Oil prices have already surged sharply due to disruption in key supply routes such as the... read more →

9 March 2026

Mar 05

Loans to Participators

There are special rules to prevent close companies, generally companies controlled by a small group of individuals, from allowing directors or shareholders to take money out of the company without paying the appropriate tax. Under CTA10/S455, if a close company makes a loan to participators (typically a shareholder, director or... read more →

5 March 2026

Mar 05

What Is a person with significant control?

A person with significant control (PSC) is someone who owns or exercises significant influence over a company. They can also be referred to as a “beneficial owner”. Every UK company is required to identify its PSCs and register their details with Companies House. A company can have one or more... read more →

5 March 2026

Mar 05

Meaning of “bona vacantia”

Bona vacantia is Latin term meaning “ownerless goods”. The bodies that deal with bona vacantia claims vary across the United Kingdom, but they all ultimately represent the Crown. Under company law, when a company is dissolved, any remaining rights or property automatically pass to the Crown as bona vacantia. This... read more →

5 March 2026

Mar 05

Reclaiming VAT on a self-build home project

Reclaiming VAT on a self-build home project can significantly reduce the overall cost of building or converting your property. The VAT DIY Housebuilders Scheme is a special VAT scheme that allows private individuals to benefit from the same VAT advantages as professional property developers. Under this scheme, the qualifying construction... read more →

5 March 2026

Mar 05

Claiming a tax refund from HMRC

If you have paid too much tax to HMRC, you may be able to claim a tax refund. Overpayments can happen for several reasons, such as a change in employment, being placed on the wrong tax code or failing to claim certain allowances or expenses. The way you claim depends... read more →

5 March 2026

Mar 05

Changes to reporting of BiKs

Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced from 6 April 2027. This represents a major change in reporting and means that for most benefits, the annual P11D form will no longer be required from the start of the 2027-28 tax year. The requirement to report... read more →

5 March 2026

Mar 03

Spring Statement 2026

The Chancellor’s Spring Statement, presented to Parliament 3 March 2026, was packed with political content that has no real impact for UK taxpayers, business owners or employees. The substance of her presentation was a summary of the Office for Budget Responsibility (OBR) Economic and fiscal outlook released on the same... read more →

3 March 2026

Mar 03

Why disregarding the minimum wage constitutes modern slavery

The National Minimum Wage (NMW) Act 1998 remains contentious, especially after the introduction of the NMW (Amendment) Regulations 2025, as it draws the legal line in the sand between employment and slavery, as highlighted by a recent case. The claimant was born in the Philippines in 1990 and travelled to... read more →

3 March 2026

Mar 02

Renewed conflict in the Middle East

Renewed conflict in the Middle East is already having knock on effects for the global economy, and UK business owners are likely to feel the impact through higher costs and increased uncertainty rather than direct disruption. The most immediate pressure point is energy. The Middle East remains a critical region... read more →

2 March 2026

Mar 02

Renewed conflict in the Middle East

2 March 2026

Mar 02

AI and the future of work: why healthcare remains resilient

As artificial intelligence becomes embedded in everyday business activity, many clients are asking how it might affect their industry and long term prospects. While some sectors face significant disruption, healthcare and social care stand out as the most resilient major industry as AI develops. The core reason is demand. Healthcare... read more →

2 March 2026

Feb 27

Why 2026 marks a step change in compliance and information demands

The period leading up to April 2026 represents more than another round of regulatory change. For accountants and lawyers supporting owner-managed businesses, landlords, and private clients, it marks a structural shift in how information is expected to be captured, maintained, and used. A combination of developments is converging at the... read more →

27 February 2026

Feb 26

Meaning of trade for tax purposes

The meaning of trade for tax purposes, often referred to as HMRC’s “badges of trade” test helps determine whether an activity is a genuine business or simply a personal hobby. While the test is not definitive, it provides important guidance on how HMRC views different activities. At some point, what... read more →

26 February 2026

Feb 26

Which supplies are zero rated for VAT?

Understanding which supplies are zero rated for VAT is essential for any business. A zero-rated supply is still a taxable supply, but it is charged at a 0% VAT rate. This distinction is important because VAT incurred in making a taxable supply can still be recovered. Therefore, a business that... read more →

26 February 2026

Feb 26

Tax effects of letting out part of your home

If you have tenants living in your property, it is important to understand the Capital Gains Tax (CGT) implications. In most cases, there is no CGT to pay when you sell a property that has been your main residence, as the gain is covered by Private Residence Relief (PRR). However,... read more →

26 February 2026

Feb 26

When not to charge VAT

When issuing invoices, it is important to apply the correct VAT treatment. In some cases, that means not charging VAT at all. Although most UK businesses charge VAT at the standard rate of 20%, there are other rates and categories that may apply. Understanding these distinctions can help you avoid... read more →

26 February 2026

Feb 26

Filling in NIC contribution gaps

National Insurance credits can help qualifying applicants to fill contribution gaps in their National Insurance record. This can help taxpayers increase their number of qualifying National Insurance years, which may increase the number of benefits they are entitled to, such as the State Pension. This could happen if someone was:... read more →

26 February 2026

Feb 26

How to claim child benefits

An application to claim child benefits can usually be made 48 hours after you have registered the birth of your child, or once a child comes to live with you. An application for child benefit can be backdated for up to 3 months. An application for child benefit is usually... read more →

26 February 2026

Feb 23

Creative businesses to benefit from government finance package

The government has announced a new package of measures designed to improve access to finance for creative businesses across the UK. The initiative aims to support firms operating in areas such as film, television, music, design, publishing, gaming and digital media, many of which face unique challenges when seeking external... read more →

23 February 2026

Feb 23

Why inflation matters when funding pension funds

When planning pension funding, inflation is often acknowledged but not always fully reflected in contribution decisions. Using an average inflation rate of around 5% over recent years helps to illustrate why this matters so much. Even when inflation appears to be easing in the short term, its long-term effect on... read more →

23 February 2026

Feb 19

Workplace pensions

Automatic enrolment for workplace pensions has helped many employees to start making provision for their retirement with employers and government also contributing to make a larger pension pot. The law states that employers must automatically enrol workers into a workplace pension if they are aged between 22 and State Pension... read more →

19 February 2026

Feb 19

Simplified expenses on motor vehicles

There are simplified expenses arrangements available for sole traders and business partnerships (with no corporate partner) that allow the use of fixed mileage rates instead of working out the actual costs of buying and running a vehicle (such as fuel, insurance, servicing and repairs). This simplified method is optional, but... read more →

19 February 2026

Feb 19

Claiming the Annual Investment Allowance

The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from pre-tax profits. The maximum amount that can be claimed for the AIA is limited to a £1 million annual cap on qualifying purchases.... read more →

19 February 2026

Feb 19

Who needs to file a self-assessment tax return

There are several reasons why you might need to file a self-assessment tax return. This could apply if you are self-employed, a company director, have an annual income over £150,000, or receive income from savings, investments or property. You must file a self-assessment tax return if any of the following... read more →

19 February 2026

Feb 19

HMRC reminder for self-employed and landlords

If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, you should do so urgently. HMRC has issued a timely reminder that for many self-employed and landlords the way to report tax to HMRC will change significantly from 6 April 2026.MTD for... read more →

19 February 2026

Feb 19

Check how to claim a tax refund

If you believe that you have overpaid tax to HMRC, you may be entitled to claim a tax refund. Overpayments can occur for a variety of reasons, including changes to employment, incorrect tax codes or unclaimed allowances. The process for making a claim will depend on whether you submit a... read more →

19 February 2026

Feb 16

New business formations exceed business “deaths”

The latest figures from the Office for National Statistics show that in 2025 the number of UK business births exceeded business deaths for a second successive year, pointing to a net increase in the total number of active enterprises. According to data from the Inter-Departmental Business Register, there were 313,715... read more →

16 February 2026

Feb 16

Business exit planning matters

For many business owners, the focus is firmly on growth, profitability and day to day operations. Exit planning is often treated as something to think about later, perhaps a few years before retirement or when a buyer appears. In reality, leaving exit planning until the end can significantly reduce the... read more →

16 February 2026

Feb 16

Intimidating claimants with costs orders may be at an end.

A claimant made allegations of unfair dismissal, discrimination, and detriment resulting from whistleblowing. While his claim against the Council was subsequently withdrawn early on, the claim against the private limited company proceeded.The respondent, however, argued that the claimant was a volunteer and that his claims were vexatious, threatening to apply... read more →

16 February 2026

Feb 12

Tax and property when you separate or divorce

When a couple separates or divorces, most attention focuses on the emotional and practical aspects. However, it is important to consider the tax implications of transferring assets, as these can have significant financial consequences if not managed carefully. It is most important to consider if there are any Capital Gains... read more →

12 February 2026

Feb 12

Entertaining employees

In general, entertaining employees is an exception to the normal rule that business entertainment costs are not allowable for tax purposes. If an employer provides entertainment exclusively for employees and it is “wholly and exclusively for the purposes of the trade”, then the expenditure is allowable as a business deduction.... read more →

12 February 2026

Feb 12

Claiming Business Asset Rollover Relief

Claiming Business Asset Rollover Relief allows for the deferral of Capital Gains Tax (CGT) when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is effectively... read more →

12 February 2026

Feb 12

Inheriting Additional State Pension

The Additional State Pension is only available to those who reached the state pension age before 6 April 2016 and are receiving the Old State Pension. The Additional State Pension is an extra amount of money paid on top of the basic Old State Pension. The Old State Pension is... read more →

12 February 2026

Feb 12

Sign up for online services

HMRC online services allow individuals, businesses and agents to manage tax matters securely over the internet. Using an HMRC online account, you can send information such as self-assessment tax returns or VAT registration applications, view important records like your business or personal tax account and make payments online. To access... read more →

12 February 2026

Feb 12

31 January deadline met by more than 11.48 million people

HMRC has confirmed that more than 11.48 million people submitted their 2024-25 self-assessment tax returns by the 31 January deadline. This included 475,722 taxpayers who left their filing until the final day and almost 27,456 that filed in the last hour (between 23:00 and 23:59) before the deadline! There are an... read more →

12 February 2026

Feb 11

Tax Diary March/April 2026

1 March 2026 - Due date for Corporation Tax due for the year ended 31 May 2025.2 March 2026 – Self-Assessment tax for 2024-25 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2026, or an agreement has been reached with HMRC under... read more →

11 February 2026

Feb 09

Business rates support and cash flow for hospitality businesses

Hospitality businesses continue to operate in a challenging environment. Rising wage costs, energy prices and supply chain pressures have all placed strain on margins. Against this backdrop, recent business rates support measures offer welcome relief and can have a meaningful impact on cash flow and operating costs. For many pubs,... read more →

9 February 2026

Feb 09

Budgeting and forecasting in a period of lower confidence

Many business owners are entering the new year with a sense of caution. Confidence across the UK business community has softened, driven by continued cost pressures, uncertainty over tax policy and higher financing costs. In this environment, reviewing budgets and forecasts is not just a routine exercise, it is an... read more →

9 February 2026

Feb 05

Do you charge VAT when you sell a company car?

The question of whether or not you are required to charge VAT when selling a company car depends on how the vehicle was bought and whether VAT was recovered at the time. Understanding these distinctions can help ensure the correct VAT treatment and avoids costly errors. If your business sells a... read more →

5 February 2026

Feb 05

New employee starter checklist

Setting up the correct tax code when a new employee starts is essential, as even small payroll errors can lead to unnecessary tax overpayments and avoidable complications later on. When hiring a new employee, employers need to ensure the correct tax code and starter declaration are set up in their... read more →

5 February 2026

Feb 05

Eligibility for Business Asset Disposal Relief

Business Asset Disposal Relief (BADR) can significantly reduce the Capital Gains Tax due when selling a business or shares, but with higher rates coming from April 2026, timing and eligibility matter more than ever. BADR applies to the sale of a business, shares in a trading company, or an individual’s... read more →

5 February 2026

Feb 05

Car and travel costs if self employed

If you are self-employed, it is important to understand which car and travel costs can be claimed. You can claim allowable business expenses for car, van, or travel costs, which reduce your taxable profit. Typical allowable costs include: Vehicle insurance Repairs and servicing Fuel Parking Hire charges Vehicle tax and... read more →

5 February 2026

Feb 05

What is a salaried member of an LLP

The salaried member legislation applies to certain members of a Limited Liability Partnership (LLP) whose terms of membership are more like an employee than a partner. To be a salaried member, the individual must perform services for the LLP in their capacity as a member. The legislation uses a three-part... read more →

5 February 2026

Feb 05

What is a UK property business

The income generated from land or property in the UK is treated as arising from a UK property business. The underlying legislation defines this broadly to include all activities that produce rental income or similar receipts from UK land, whether the taxpayer is subject to Income Tax or Corporation Tax.... read more →

5 February 2026

Feb 04

Payments made into employee benefit trusts constitute taxable income

A Tribunal recently ruled that payments made for work into a third-party trust constitute immediate employment earnings. This decision effectively precludes employers from using loan-based structures to obfuscate remuneration.Mr. Jack was employed by an offshore company based in the Isle of Man while living and working in the UK. Under... read more →

4 February 2026

Feb 02

Turning waste disposal into an income stream

For many businesses, waste disposal is seen purely as a cost, an unavoidable expense required to stay compliant and keep operations running smoothly. However, there is growing interest in the idea that waste, when managed differently, can become a modest but meaningful source of income rather than a drain on... read more →

2 February 2026

Feb 02

The rise of the silver economy

The term “silver economy” is used to describe the growing economic activity linked to an ageing population. In the UK and across much of the developed world, people are living longer, healthier lives. This demographic shift is reshaping consumer demand, labour markets, and public policy, and it is creating both... read more →

2 February 2026

Jan 29

Check your National Insurance record

It is recommended to check your National Insurance record as this can affect your future entitlement to the State Pension and other benefits. By using the online service, you can see what National Insurance contributions you have paid up to the start of the current tax year, along with any... read more →

29 January 2026

Jan 29

PAYE rules for labour supply chains (umbrella companies)

From 6 April 2026, significant changes to PAYE rules will affect umbrella companies, recruitment agencies, and end clients, increasing shared responsibility for payroll compliance across labour supply chains. Umbrella companies are often used by freelancers, contractors, and temporary workers who prefer not to operate as limited companies or set up... read more →

29 January 2026

Jan 29

New 40% First Year Allowance now in force

The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was first announced at Autumn Budget 2025 and is intended to encourage continued capital investment while changes to other capital allowance rates... read more →

29 January 2026

Jan 29

Welsh Budget 2026-27

The Welsh Final Budget for 2026-27 was published on 20 January 2026. The Budget sets out the Welsh government’s revenue and capital spending plans, including detailed portfolio spending plans. Mark Drakeford MS, Cabinet Secretary for Finance and Welsh Language confirmed that the Final Budget provides £27.5bn for people, public services... read more →

29 January 2026

Jan 29

MTD for Income Tax – check if and when you need to use it

If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 2026 the way many individuals report their tax to HMRC will change significantly. MTD for Income... read more →

29 January 2026

Jan 29

Scottish Budget Statement 2026-27

Scotland’s Finance Secretary, Shona Robison delivered her third Budget statement to the Scottish parliament on 13 January 2026. This is the final Budget before the Holyrood elections due to take place in May. There were no changes announced to the Scottish Income Tax rates. Following the UK Government’s extension of... read more →

29 January 2026

Jan 29

Construction Industry Scheme: tackling fraud

Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster intervention where fraud is suspected, while also simplifying certain administrative aspects of the CIS. From 6 April 2026, HMRC will be able to act immediately... read more →

29 January 2026

Jan 26

Do you need a company audit in the UK?

Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations. For financial years starting on or after 6 April 2025, a company is generally audit exempt... read more →

26 January 2026

Jan 26

Protecting your online passwords

With so many online accounts now in daily use, including banking, shopping, email and HMRC services, password security has never been more important. A weak or reused password can lead to fraud, identity theft, or unauthorised access to personal and business information. A good first step is to use strong,... read more →

26 January 2026

Jan 21

Why a pre-tax yearend review adds real value for your clients

As the end of the tax year approaches, many clients start thinking about tax planning, but often too late for it to make a meaningful difference. A pre-tax yearend review gives professional advisers the chance to step in early, spot risks, and identify straightforward opportunities to improve outcomes. For many... read more →

21 January 2026

Jan 19

What factors affect a person’s credit rating?

A person’s credit rating (often referred to as a credit score) is a measure used by lenders to assess how reliably someone manages borrowing and financial commitments. It can affect whether credit is offered at all, the interest rate charged and even the size of deposit required for certain products.... read more →

19 January 2026

Jan 19

What banks look at when a small business applies for a loan

When a small business applies for a bank loan, the bank is mainly trying to answer one question, “How likely is it that we will be repaid, on time and in full?” To reach that decision, they will review a mix of financial evidence, trading performance and the overall risk profile... read more →

19 January 2026

Jan 16

Tax Diary February/March 2026

1 February 2026 - Due date for Corporation Tax payable for the year ended 30 April 2025.19 February 2026 - PAYE and NIC deductions due for month ended 5 February 2026. (If you pay your tax electronically the due date is 22 February 2026)19 February 2026 - Filing deadline for... read more →

16 January 2026

Jan 15

Company information in the public domain

Did you know you can monitor any UK company for free and get email alerts when key details change, which can help protect your own business from unexpected or unauthorised filings? A significant amount of information about companies is available in the public domain from Companies House. Companies House is responsible... read more →

15 January 2026

Jan 15

Pre-trading expenditure for companies

Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the right conditions. There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading. This could include expenses that are required to help a... read more →

15 January 2026

Jan 15

Expenses for the self-employed

If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you end up paying. The question of which costs you can claim against your self-employed business is a common one. If you are self-employed it is important to be aware... read more →

15 January 2026

Jan 15

Creative Industry Corporation Tax reliefs

If your business works in film, TV, games or the arts, Creative Industry Tax Reliefs could reduce your Corporation Tax bill and may even generate a payable tax credit. Creative Industry Tax Reliefs (CITR) are a range of UK Corporation Tax reliefs designed to support companies operating in the creative... read more →

15 January 2026

Jan 15

What is the advance tax certainty service?

If your business is planning a major UK investment, HMRC’s new advance tax certainty service could give you binding clarity on the tax position before you commit. HMRC has recently published draft guidance on the new advance tax certainty service as part of the government’s Corporate Tax Roadmap at the... read more →

15 January 2026

Jan 15

MTD for Income Tax – what’s required from April 2026

From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their tax affairs. The new regime is designed to modernise the tax system by requiring taxpayers to interact with HMRC through an... read more →

15 January 2026

Jan 12

Pre-tax year end planning

Pre-tax year end planning is one of the most practical and controllable ways for UK businesses and higher rate taxpayers to reduce unnecessary tax exposure. Unlike long term restructuring, it focuses on decisions that can still be influenced before 5 April or, for companies, before the accounting year end. When... read more →

12 January 2026

Jan 12

Company liquidations and insolvencies are still elevated

The Insolvency Service data for England and Wales shows monthly company insolvencies remain high by historical standards, even though they move up and down month to month. For example, November 2025 recorded 1,866 registered company insolvencies, down on October 2025 and also below the same month a year earlier. The... read more →

12 January 2026

Jan 08

Starting or changing jobs

Providing the right information when you start a new job helps ensure your tax code is correct from the first pay day and avoids the risk of paying too much tax. When starting a new job or taking on additional employment, your new employer will usually send your income details... read more →

8 January 2026

Jan 08

Company car expenses and benefits – what’s exempt?

While company cars often come with tax implications, there are specific situations where the associated benefits may be exempt. There are circumstances where it can be possible to offer employees car benefits that are exempt from tax. Exempt expenses and benefits include the following: Business-only use: This rule has been... read more →

8 January 2026

Jan 08

Did you file your tax return over the festive period?

HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release by HMRC has highlighted that 4,606 taxpayers took the time to file their tax return online on Christmas Day with... read more →

8 January 2026

Jan 08

Changes to Agricultural and Business Property Relief reforms

The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased from £1 million to £2.5 million when the changes take effect from 6 April 2026. The change will be introduced via an amendment... read more →

8 January 2026

Jan 08

New First Year Allowance from 1 January 2026

The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026, the new FYA applies to qualifying main-rate plant and machinery expenditure. It was also announced at the recent Autumn Budget... read more →

8 January 2026

Jan 08

The scope of the trivial benefits legislation

The trivial benefits legislation provides a simple and practical tax exemption that allows employers to give small non-cash benefits to employees without triggering tax or National Insurance charges. To qualify as a trivial benefit, the cost to the employer must not exceed £50 per item. The benefit must not be... read more →

8 January 2026

Jan 05

What is the OOTLAR?

The OOTLAR document for Budget 2025 is essentially the official listing and explanation of tax measures announced at the Autumn Budget 2025. It brings together all the policy changes that the government intends to legislate, whether through the upcoming Finance Bill 2025-26 or by other means such as statutory instruments,... read more →

5 January 2026

Nov 26

Ideas for coping with tax cycle stresses and strains

The weeks leading up to the Self-Assessment deadline can feel relentless. Workloads rise, client expectations sharpen, and the pressure to keep everything accurate and on time becomes intense. This year, many firms also have an extra layer of complexity. Making Tax Digital is approaching for the relevant self-employed clients and... read more →

26 November 2025

Nov 20

Increase in the London congestion charge from January 2026

The daily charge for driving within the London Congestion Charge zone will rise from £15 to £18 from 2 January 2026. This is the first increase in several years and forms part of Transport for London’s wider plan to manage traffic levels, improve air quality and support sustainable travel across... read more →

20 November 2025

Oct 22

Autumn Budget speculation: where tax changes may fall next

As the Chancellor prepares for the Autumn Budget, speculation is mounting about how the government might balance the books without breaking its pledge not to raise the main rates of income tax, National Insurance, or VAT. Accountants, lawyers, and financial advisers are watching closely, because several potential measures could reshape... read more →

22 October 2025

Oct 15

Business meetings – Face to face or online?

The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks. Yet for many, there is still something powerful about sitting across the table from another person. Both formats have their place,... read more →

15 October 2025

Oct 01

Why Every Accounting Practice Should Subscribe to Informanagement’s Tax Cards & Annual Tax Books

In the fast-moving world of UK taxation, staying up to date is not optional, it’s essential. Yet many practices struggle to keep pace with frequent changes in rates, reliefs, and allowances while still delivering day-to-day client service. That’s where Informanagement UK Ltd steps in with two indispensable tools: their Tax... read more →

1 October 2025

Sep 17

Why outsourcing client communication saves time and money

17 September 2025

Sep 11

Keeping your best people with flexible working

For many small business owners, finding and keeping good staff is one of the biggest headaches. Recruitment is costly, time-consuming, and uncertain. That is why focusing on staff retention is one of the smartest moves you can make. People stay where they feel valued. Pay matters, of course, but many... read more →

11 September 2025

Aug 27

Why accountants and solicitors are turning to Informanagement UK

In today’s market, both accountants and solicitors are under constant pressure to keep clients informed. Tax changes, new regulations, and shifting business challenges mean that clients expect regular updates and practical guidance. Yet producing a steady flow of professional content takes time that fee earners simply do not have. This... read more →

27 August 2025

Aug 20

Pre-Budget tax planning – act now

With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect. Key areas to review: Personal allowances – make sure you are using your Personal Allowance, savings allowance, dividend allowance, and... read more →

20 August 2025

Aug 07

The value of retaining profits to support cash flow and growth

For small businesses and growing companies alike, one of the most reliable sources of funding is often the profits they generate. While it can be tempting to extract earnings in the form of dividends, bonuses, or reinvestment elsewhere, there is a strong case for holding back a portion of those... read more →

7 August 2025

Jul 23

UK Export Finance: Empowering UK Businesses to Go Global

UK Export Finance (UKEF) is the UK’s export credit agency and government-backed financier. Its mission is to ensure that no viable UK export fails simply due to lack of funding or insurance. What UKEF offers Working capital support: Through schemes such as the General Export Facility, Export Working Capital Scheme,... read more →

23 July 2025

Jul 17

Why ESG assurance matters more than ever

Environmental, Social, and Governance (ESG) factors are no longer a niche concern or a tick-box exercise for large corporates. They have become a core part of how businesses are judged; by investors, regulators, customers, and even lenders. As a result, accountants are finding themselves at the centre of a fast-developing... read more →

17 July 2025

Jul 16

Choosing the right KPI’s for your business

Key Performance Indicators (KPIs) are not just numbers on a dashboard; they are tools to help business owners make better decisions. But with so many metrics available, how do you know which ones matter most for your business? The answer is simple: start with your goal. KPIs should always support... read more →

16 July 2025

Jul 09

Autumn Budget 2025: What Changes Might Be on the Horizon?

As we look ahead to the Autumn Budget 2025, it is clear that the Chancellor, Rachel Reeves, will be under pressure to balance public expectations with fiscal reality. A combination of reduced growth forecasts, increased borrowing costs, and the reversal of planned welfare savings has narrowed the government’s room for... read more →

9 July 2025

Jul 02

Are you ready for Companies House ID checks?

From 2025, Companies House is rolling out new identity verification requirements for directors, people with significant control (PSCs), and anyone forming or managing a UK company. These changes form part of the Economic Crime and Corporate Transparency Act and are designed to reduce fraud and increase confidence in UK companies.... read more →

2 July 2025

Jun 24

Winter Fuel Payments reinstated

The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025–26, reversing the previous year's cuts. Around nine million pensioners are expected to benefit from this decision, with payments of £200 per household or £300 for households where someone is aged 80... read more →

24 June 2025

Jun 18

Navigating the Companies House Identity Verification Requirement:

A Guide for Accountants From autumn 2025, new rules from Companies House will make identity verification mandatory for company directors, Persons with Significant Control (PSCs), and those filing company information. These changes are part of a wider effort to reduce fraud and increase transparency in UK corporate structures. For accountants,... read more →

18 June 2025

Jun 11

The value of tax planning for high net worth individuals

For high net worth individuals (HNWIs), tax planning is not simply a compliance activity, it is a strategic tool to preserve and grow wealth. With rising scrutiny from HMRC, frozen allowances, and increasingly complex legislation, the value of well-structured planning has never been higher. HNWIs typically have multiple sources of... read more →

11 June 2025

May 22

Why every UK accountancy firm needs a newsletter strategy in 2025, and how to make it work

In today’s fast-changing regulatory landscape, staying connected with clients is no longer a luxury for accountancy firms, it is a necessity. From ongoing HMRC updates and shifts in compliance requirements to opportunities for tax planning and business support, clients expect their accountant to be informed and communicative. A regular, well-written... read more →

22 May 2025

Apr 22

What is it like being a tax advisor?

Being a professional tax adviser in the UK is anything but dull. The role has evolved far beyond simply helping clients file returns or calculate liabilities. These days, it’s about staying ahead of constant legislative changes, guiding clients through increasing complexity, and finding that all-important balance between compliance and optimisation.... read more →

22 April 2025

Mar 12

Festival of Accounting and Bookkeeping (FAB 2025)

🚀 **We’re here exhibiting at FAB 2025, booth A16!** 🚀 Our unique online portal delivers tailored, relevant content on tax, accountancy, and business updates—automatically distributed via email, social media, and websites. With personalised content for clients and staff, we help you stay relevant, boost engagement, and enhance brand awareness. 🌟... read more →

12 March 2025

Feb 26

Why We Need to Communicate with Our Clients

Effective communication with clients is crucial for building trust, understanding needs, and delivering a positive experience. Whether offering professional services, managing a business, or providing consultancy, strong communication helps ensure success and client satisfaction. Building trust and credibility is one of the main benefits of good communication. When clients feel... read more →

26 February 2025

Jan 22

Debt Management Plan

Navigating financial challenges can be daunting, but understanding the tools available can make a significant difference. One such tool is a Debt Management Plan (DMP), designed to help individuals regain control over their finances. What is a Debt Management Plan? A DMP is an informal agreement between you and your... read more →

22 January 2025

Dec 13

Pause for Thought: Planning for 2025

As we approach the end of another year, it’s the perfect time for accountants to reflect on their practices and plan for the challenges and opportunities that 2025 may bring. The world of accounting is constantly evolving, with regulatory changes, technological advancements, and shifting client expectations demanding a proactive approach.... read more →

13 December 2024

Nov 22

Exit planning for accountants – what is your GRF worth?

One metric that accountants should keep their eye on is exit planning for their practice and considering the factors that will increase its saleability and value. Typically, accountancy practices are valued between 0.8 to 1.7 times their Gross Recurring Fees (GRF). This range can vary based on several key elements,... read more →

22 November 2024

Oct 18

Asking open questions

Asking open questions, especially in areas like taxation, business practices, or even interpersonal relationships, brings several valuable benefits. Here are a few key reasons why open questions are important and valuable: 1. Encourages Detailed Responses Open questions allow for more expansive and detailed responses compared to closed questions, which often... read more →

18 October 2024

Oct 10

Government crack-down on late payers

The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a year on average and according to FSB research, leads to 50,000 business closures a year. The government will... read more →

10 October 2024

Sep 16

Keeping clients informed

Accountants need to keep clients up to date with tax legislation to ensure compliance with the law. Tax laws frequently change due to updates in government policies or legal rulings, and staying informed helps clients avoid fines, penalties, or legal complications. It's also essential for maximising tax efficiency, as new... read more →

16 September 2024

Sep 06

Could an interest rate reduction reduce government expenditure?

A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is sensitive to changes in short-term interest rates. According to the Office for Budget Responsibility, a... read more →

6 September 2024

Aug 27

Negative equity

Negative equity occurs when the value of an asset, typically a property, falls below the outstanding balance on the loan or mortgage secured against it. In other words, the amount owed on the mortgage is greater than the current market value of the property. Example: Imagine you bought a house... read more →

27 August 2024

Aug 21

We're exhibiting at @Accountex Summit Manchester 2024! Book your free ticket today and meet our team face-to-face on the 17 September at Manchester Central. #ACXManchester #accounting #finance

21 August 2024

Aug 13

Guidance for charities on managing public disorder

The charity commission has offered the following guidance to charities following the recent public disorder events. The main points are summarised below: Are you operating in an area which has seen or is at risk of unrest? If so and you wish to continue to operate what changes could be... read more →

13 August 2024

Aug 05

Living Wage rates to be overhauled

In a move to put more money in working people’s pockets, the government has overhauled the remit of the Low Pay Commission (LPC). This will, for the first time, ensure the independent body considers the cost of living when it makes future recommendations to government on the minimum wage. The... read more →

5 August 2024

Jul 19

The weight of regulation

There is justification for the range of regulatory hoops that accountancy and tax advisors need to pass through in order to offer advisory services to individuals and businesses. At the very least, those in need of advice should be protected from advisors who are clearly not qualified to offer such... read more →

19 July 2024

Jul 10

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our new government requires to finance its activities. The government has already declared that it will not increase Income Tax, National Insurance or VAT and government borrowing has to remain within... read more →

10 July 2024

Jun 17

Victim of circumstance

Whatever the issues we face that are a cause for concern, there are two ways we can approach these challenges. We can take charge of the situation and start looking for solutions, or we can identify third parties as the cause and wait for them to remedy the situation. Both... read more →

17 June 2024

Jun 12

New brooms

As time passes during the present election campaign, its seems more likely that we may have a change of government from the 5 July. Labour have disclosed a number of tax changes they would introduce. To summarise they are: Private school fees will attract VAT at 20% which private schools... read more →

12 June 2024

Jun 04

Change

There is a French saying “Plus ca change, plus c’est la meme chose” meaning, the more things change, the more they stay the same. Its interesting to apply this to a change that is about to come about, if, as expected, the Labour Party form the next government from the... read more →

4 June 2024

May 28

Benefits of a fall in inflation

An economist from the Treasury explains exactly what a fall in inflation means for you. How will lower inflation help the economy? Lower inflation supports people by maintaining the purchasing power of their money. If prices only rise slowly, people can plan their budgets more effectively – encouraging spending and investment,... read more →

28 May 2024

May 17

Look ahead but check your wing mirrors

Way back, February 2019 to be exact, we posted an article speculating on the effects of Brexit. We said: “Having spent the past few weeks (months?) frantically completing and filing tax returns, practitioners could be excused for side-lining Brexit issues as a tedious “noise” to be ignored. Perhaps it would... read more →

17 May 2024

Apr 18

More red tape for practitioners

Companies House will be introducing a new identity verification process to help deter those wishing to use companies for illegal purposes. Anyone setting up, running, owning or controlling a company in the UK will need to verify their identity to prove they are who they claim to be. Over the... read more →

18 April 2024

Apr 10

Informanagement will be at Accountex London 2024

We're exhibiting at @Accountex London 2024! Book your free ticket today and meet our team face-to-face on the 15-16 May at ExCeL London. This electrifying event never fails to impress with its vibrant atmosphere, pulsating energy, and thrilling buzz. It's an absolute delight to reconnect with our phenomenal clients. Grab... read more →

10 April 2024

Apr 03

Time to rethink the credit you offer your customers

Most business owners are driven by sales targets and to meet these targets they may be tempted to offer extended payment terms. For example, if your business grants a customer time to pay – say 60 days – after the services or goods supplied have been delivered, effectively, your money... read more →

3 April 2024

Mar 19

ITSA – have you had your invitation from HMRC?

The HMRC Help & Support service recently (14 March) sent out an email to registered tax agents headed “Coming soon: MTD ITSA testing’. Did you receive a copy? In the opening paragraphs agents are invited to: “…join testing of Making Tax Digital for Income Tax Self-Assessment from 22 April 2024.”... read more →

19 March 2024

Mar 01

Crack down on ‘fire and rehire’ practices

The Government has announced action to tackle the use of controversial 'fire and rehire' practices. In a press release issued 19 February 2024 they said: “Action against unscrupulous employers to tackle the use of controversial ‘fire and rehire’ practices will be rolled out by the Government today [19 February]. Dismissal... read more →

1 March 2024

Feb 19

HMRC’s performance update

Practitioners will be interested to learn that HMRC is “focused on delivering a trusted, modern tax and customs service that makes it easier to pay tax and harder to get it wrong.” Leaving aside the misnomer that taxpayers are customers, in HMRC’s performance update for October to December 2023 they... read more →

19 February 2024

Feb 15

The Valuation Office Agency tackles holiday lets

The Valuation Office Agency (VOA) is writing to some owners of self-catering holiday lets that are assessed for business rates. They are doing this because they need further information about the income and expenditure of these properties. Last year, the VOA wrote to most self-catering holiday let owners in England... read more →

15 February 2024

Feb 08

Government promotes electric vehicles

The government department active in the promotion of electric vehicles has published guidance regarding the costs, charging issues and infrastructure. We have extracted a few comments and reproduced them in this post. Buying an electric vehicle While a new electric vehicle (EV) costs more to buy up front, today most... read more →

8 February 2024

Jan 30

Changes at Companies House

Companies House have issued an update on their first implementation of changes brought about by The Economic Crime and Corporate Transparency Act. We have copied in the relevant comments made in a recent blog post. Companies House are aiming to introduce the first set of changes on 4 March 2024.... read more →

30 January 2024

Jan 24

The impact of compliance

To some extent, the software used by accountancy practitioners to prepare and file accounts and tax returns takes care of the practical compliance associated with those tasks. For example, ensuring that accounts are filed in the required format with annual tax returns. As and when Companies House reveals the filing... read more →

24 January 2024

Jan 17

A reminder to protect your business capital

The beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital. The downturn in global trade continues to be affected by the war in Ukraine, the situation in the Middle East and now the... read more →

17 January 2024

Jan 04

Will there be a switch to advisory in 2024?

Will the downward pressure on compliance service fee levels continue in 2024? You would need to be a supreme optimist if you sincerely believed that the continuing impact of accounting software development and less qualified firms moving into the compliance service sector will have no impact on your compliance activity... read more →

4 January 2024

Dec 12

What data do organisations hold about you?

If you are concerned that an organisation is holding personal information you have a legal right to ask for a copy of the information that they hold about you. If it is a public organisation, write to their Data Protection Officer (DPO). Their details should be on the organisation’s privacy... read more →

12 December 2023

Nov 29

All change 2024?

Advisors will be viewing the advent of 2024 with some trepidation. Politics aside, the present government will be seeking to please voters with tax cuts and other give-a-ways and the opposition will have its own fiscal tempters to win over voters. In which case, expect a few significant changes in... read more →

29 November 2023

Nov 10

Cost of living payments

You may have been entitled to a Cost of Living Payments of £301 (paid April/May 2023) and should have received £300 (payable early November 2023) and a further £299 due spring 2024. Payments are limited to persons claiming the following benefits. income-based Jobseeker’s Allowance (JSA) income-related Employment and Support Allowance... read more →

10 November 2023

Oct 31

More on Companies House changes

Following our blog post last month, the enabling legislation to increased powers at Companies House, the Economic Crime and Corporate Transparency Bill, has now received Royal Assent on 26 October 2023. Practitioners will be divided on this change in regulation as it will nndoubtably add to red tape as well... read more →

31 October 2023

Oct 23

Cash flow v customer credit limits

If your business grants a customer time to pay – say 30 days – after the services or goods supplied have been delivered, effectively, your money stays in their bank account for 30 days. Further, if you have incurred costs regarding a sale, that have to be paid for before... read more →

23 October 2023

Oct 09

Bank deposits covered by FSCS

Your eligible deposits with all High Street bank are covered by the Financial Services Compensation Scheme (FSCS). The present limit of this FSCS guarantee is £85,000 and this applies to total deposits held at a bank, not per account with a bank. This will be of interest to Metro Bank... read more →

9 October 2023

Oct 03

National Living Wage potential boost

The government looks likely to accept the recommendations of the Low Pay Commission with a boost to the National Living Wage rate. In summary: National Living Wage will rise to two-thirds of average earnings. Chancellor commits to Low Pay Commission recommendations, with latest forecasts showing a pay boost next year... read more →

3 October 2023

Sep 25

Corporate transparency changing

Practitioners will no doubt be aware that the Economic Crime and Corporate Transparency Bill is nearing the end of its progress through the parliamentary process. The final stages will involve consideration of amendments and Royal Assent. Once this process is completed, software companies will need to rethink statutory accounts production.... read more →

25 September 2023

Sep 14

Informanagement are exhibiting at Accountex Summit Manchester 2023

@Accountex. Tuesday 19 September the Informanagement team are coming to Manchester once again. Come visit us at stand J10. To our amazing clients, we cannot wait to see you there. #ACXManchester #Accounting #Finance #ukaccountant #accountancy #accountants

14 September 2023

Sep 12

Companies House fees increase?

Companies House have published information that suggests their fees may be increasing in the near future. And it’s all to do with the ECCT Bill currently passing through parliament. To give it its full name, The Economic Crime and Corporate Transparency (ECCT) Bill will change the role and purpose of... read more →

12 September 2023

Aug 29

Is there anybody there?

How long before clients’ tax affairs are handled by AI at HMRC? Can you imagine resolving tricky issues with a chat bot? Recent experience with computerisation of MTD and other processes would seem to evidence that any additional digitisation of HMRC systems will likely be some time away. Any yet,... read more →

29 August 2023

Aug 18

Who is your ideal customer?

If there is a particular type of customer that is ideally placed to benefit from the goods or services you sell it makes sense to target any marketing activity in their direction, rather than adopting a scatter gun approach. Take a good look at your present customers and select those... read more →

18 August 2023

Jul 24

Do you have a gatekeeper?

If you tested client opinion, many would say that it was ‘difficult’ to get hold of you. And you would probably reply, well I’m busy… For practitioners who have staff, and particularly, a person who answers incoming calls, the way in which these calls are taken will endear or may... read more →

24 July 2023

Jul 14

Ideas for increasing your cash flow

Business owners are not exempt from the effects of inflation, but unlike waged individuals, they may have more options to increase cash flow. Here’s a few ideas you may like to consider: If you have slow-moving or dormant stock sitting on your storage racks, consider a sale. Anything you can... read more →

14 July 2023

Jun 29

Discover InforLearning – Elevate Your CPD Journey

InforLearning is a cutting-edge Continuing Professional Development (CPD) facility tailored specifically for accountants. As a dedicated accountant, staying up-to-date with industry knowledge is essential for your continued success. InforLearning offers a comprehensive range of CPD courses, meticulously curated to meet the evolving needs of accounting professionals like you. Our platform... read more →

29 June 2023

Jun 21

Client engagement

It’s interesting to consider how engaged your clients are with your practice. For example, when they run into a #tax or #business problem are you their first port of call for advice? Outside our business life, the persons we seek out when we need advice are probably our close family... read more →

21 June 2023

Jun 12

Complexity may be double-edged sword

There does seem to be a trend to replace human interactions with automated AI systems. This is especially evident in the management of our tax system. There was a time, many years ago, when each taxpayer’s tax affairs would be managed by a local tax inspector and all records were... read more →

12 June 2023

May 22

Was there ever a time?

There is no opportunity to offer advice if the audience for advice is settled and has no problems. If we examine the plight of SMEs in the UK in the past few years, would we assert that SMEs have had the best of times, that they have had no problems?... read more →

22 May 2023

May 18

Tax by stealth

There is a plausible link between a rise in tax payments if tax rates increase or if tax allowances and reliefs fall. But what happens if there is no change in tax rates or allowances? In this case, there would be an assumption that taxes would not increase; why would... read more →

18 May 2023

Apr 24

Artificial Information (AI) v advice

Are accounts and tax related software products that are now essential tools for progressive firms, also ripe for development into advisory roles – offering ideas based on access to tax and business legislation. How long before HMRC’s online services include an option “Click here to choose the strategy that minimises... read more →

24 April 2023

Apr 20

What is profit?

When accountants or other interested parties refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs. However, the word “profits” can prove to be a moveable feast as HMRC, banks and traders will likely have a different interpretation.... read more →

20 April 2023

Apr 12

Tax information delivered straight to your clients inbox

Unlock the power of knowledge with our tax, accountancy, and business advisory newsletter sent directly to your clients! 📩 Keep your clients and contacts informed on the latest tax information, regulations, legislations, and industry insights curated by our expert in-house editors. 💼🔍 Our exclusive content will keep you ahead of... read more →

12 April 2023

Apr 05

The virtual practice

How long before practitioners will look back with nostalgia at the days long ago when accountants were a fixture on the High Street, complete with brass name plates and the office was a physical space rather than a virtual reality. The signs pointing to the virtual office are already in... read more →

5 April 2023

Mar 27

Solvency continues to be a pressing issue

The recent rise in inflation and interest rates underlines the fact that the UK and world economies are still suffering from the effects of the continuing war in Ukraine. Accordingly, if you have managed to retain profits in your business this buffer will help to see you through difficult trading... read more →

27 March 2023

Mar 15

Spring Budget 2023

Get ahead of the game and keep your clients up-to-date with the latest #springbudget changes. Informanagement provide bespoke products and services to #accountancy firms, enabling you to effortlessly deliver this crucial information to your clients and contacts. #ukaccountants #uktax

15 March 2023

Feb 23

Balancing your budget

Homeowners and landlords will have seen a significant increase in their mortgage payments due to the rise in the Bank of England Base rate over the past 6-months if any fixed rate agreements have expired in this period or if you have a variable rate arrangement. And mortgage payers who... read more →

23 February 2023

Jan 31

Protecting your business capital

All business owners, but predominantly retailers, leisure and entertainment trades, will have seen their hard-won capital all but exhausted by the needs to meet fixed costs when income generation has been restricted or eliminated by lock-down directives during the early years of the COVID pandemic, and more recently by the... read more →

31 January 2023

Jan 23

Will taxes rise or fall?

As we approach yet another spring budget – the date is set for the 15th March 2023 – will taxes rise or fall. And more importantly for practitioners, how will any changes affect your advice to clients? There will be two-fold concerns: will any changes impact advice already given to... read more →

23 January 2023

Jan 09

Which way to turn

Inflation and recession are cruel task-masters. If you provide goods or services that can be readily sourced from alternative suppliers, and at a lower cost, trying to beef-up your sales prices will likely result in lost income as your customers go elsewhere. If your costs are increasing this can only... read more →

9 January 2023

Jan 03

Happy New Year

The earliest recorded celebration of the new year is some 4,000 years ago in ancient Babylon. It was timed to coincide with the vernal equinox – equal days and nights – a day in late March. Humanity seems able to look on the bright side even when the evidence points... read more →

3 January 2023

Dec 20

Cost of living travel support

As a contribution to the cost-of-living passengers are being encouraged to Get Around for £2 by bus from January to March next year, with bus operators launching a campaign to promote the government fare cap scheme. The scheme will help families, commuters and other passengers save money this winter, backed... read more →

20 December 2022

Dec 05

Business Secretary Grant Shapps has announced a comprehensive review into tackling late payments for small businesses, while urging large companies to pay their smaller suppliers promptly. Small businesses routinely spend significant time and resources chasing late payments from businesses they supply which can lead to cash flow problems, putting their... read more →

5 December 2022

Nov 28

Panning for ideas

If you had been part of the Klondike gold rush but had restricted your searches to one-ounce nuggets, you would likely have been on the bread line in a matter of weeks. Successful prospectors would have filtered out, and collected grains of gold as well as larger nuggets. Ideas are... read more →

28 November 2022

Nov 21

Staying informed

Most of us would confess to a limited capacity to absorb bad news, and we have had plenty of bad news to absorb in the past few years. And the immediate outlook, according to the pundits, looks anything but rosy. We are advised that inflation will take some time to... read more →

21 November 2022

Nov 16

Market research

Who knows best? You or your customers? Who is the best judge of the goods or services you try and sell to your customers? Many business owners assume that they know what their customers need and rush to market with goods or services that may or may not be widely... read more →

16 November 2022

Oct 26

Keep a weather-eye on solvency

If you have managed to retain profits in your business this fat-on-the-bone will help to see you through loss making periods. The challenges UK business presently face – and that pose a threat to solvency – are gathering pace. They include: Potential disruption if COVID and flu return with a... read more →

26 October 2022

Oct 24

Austerity?

Now that politicians seem to understand that fiscal policy has an immediate effect on the money markets, will the next government resort to a clamp down on government expenditure to avoid any further, large-scale borrowing? Will we see a return to austerity? If we do, it is highly unlikely that... read more →

24 October 2022

Oct 20

Controlling energy demand

It would seem that energy costs need our attention this winter. Costs of gas and electricity remain high, and while we cannot directly influence the rates per kilowatt hour we are paying, we can take a serious look at strategies to reduce the volume of gas and electricity we are... read more →

20 October 2022

Oct 04

Winter planning

The list of challenges facing UK businesses in the coming winter months are formidable: Inflation Interest rate hikes Continuing supply-line issues Energy prices Transport costs Economic slow-down Possible recession Now we will have a reasonable understanding of government support measures and tax changes (following Chancellor Kwarteng’s recent announcements) now is... read more →

4 October 2022

Sep 23

The Growth Plan 2022

This so-called mini-budget actually morphed into a series of major announcements by the new Chancellor Kwasi Kwarteng. The expected reversal of the 1.25% increase in National Insurance contributions in the current tax year was confirmed and will apply from 6 November 2022. A summary of the main tax changes that... read more →

23 September 2022

Sep 22

Time to dust off advisory services

For accountants and other advisers to the business sector this is a time ripe with opportunity. When the going gets tough – in business circles – firms should be dusting-off their advisory services and showing their beleaguered clients how to use financial umbrellas to shelter them from current and emerging... read more →

22 September 2022

Sep 21

Leaseholders to get money back

The Competition and Markets Authority (CMA) has secured undertakings from nine companies that bought freeholds from leading housing developer Taylor Wimpey. A further four national developers – Crest Nicholson, Redrow, Miller Homes and Vistry – have also agreed to work with the companies who purchased their freeholds to remove doubling... read more →

21 September 2022

Sep 09

Tribute to Her Majesty, Queen Elizabeth II

We are deeply saddened by the passing of Her Majesty, Queen Elizabeth II. Her loss will forever be deeply felt throughout the country and the world. A true inspiration to all. Her Majesty, Queen Elizabeth II, we thank you for everything. Rest in eternal peace.🙏

9 September 2022

Sep 06

Bounce Back Loan abuse uncovered

The Insolvency Service continues to unearth individuals who applied for Bounce Back loans by inflating their turnover estimates or applying for loans when their company was not trading. In recent cases, five individuals have separately been made subject to bankruptcy restrictions totalling forty-eight years as the Insolvency Service continues to... read more →

6 September 2022

Sep 02

The digital clock is ticking

The government extended the requirement to operate Making Tax Digital (MTD) to the 4.2m taxpayers with business and/or property income over £10,000, including landlords, sole traders and partnerships, for their Income Tax obligations. These changes will apply to businesses, self-employed individuals and landlords who are chargeable to Income Tax. Under... read more →

2 September 2022

Aug 15

A few facts about the month of August

Setting aside the political hiatus this month, we thought we would publish a few facts about the month of August. Did you know: In a standard year, no other month starts on the same day as August. In both standard and leap years, August always ends on the same day... read more →

15 August 2022

Aug 10

Financial umbrellas

We seem to be facing at least two years of economic challenges. Inflation, recession, rising interest rates and general cost of living (energy) increases. And let’s not forget the more imminent hose pipe bans. Our government is in limbo, electing a new leader, and an emergency budget is promised for... read more →

10 August 2022

Aug 03

Priority

We all carry a list of unfinished tasks. Those more organised may use software to list and prioritise what gets done and when, but many of us depend on hand-written lists or our memory. The longer the list the heavier the weight of our to-do back-packs. There is a temptation... read more →

3 August 2022

Jul 22

What now for fiscal policy?

The race is on. Will Rishi Sunak or Liz Truss be our next Prime Minister? As both have diverging views on taxation, the outcome could be significant. Rishi Sunak has promoted his cautious, let us control inflation and repay government debt before we start to ease tax rates. At present,... read more →

22 July 2022

Jul 19

Business outlook

Be prepared for change. Unless Rishi Sunak is elected leader of the Conservative Party as his determination to increase taxation, control government expenditure and reduce borrowing is the present general direction of economic policy. But from early September 2022, this may change if one of the other candidates pips Rishi... read more →

19 July 2022

Jul 11

Building a solid capital base

Many of the COVID restrictions were eased almost a year ago, and business owners in vulnerable sectors: predominantly retailers, leisure and entertainment trades, have had an opportunity to re-establish their business finances. Their hard-won capital may have been all but exhausted by the needs to meet fixed costs when income... read more →

11 July 2022

Jul 07

Why is solvency important?

During periods when demand for your goods and services drop – for example, if the economy moves into recession – your sales and incoming cash receipts tend to drop at a faster rate than you are able to reduce your outgoings. These outgoings or expenses tend to fall into one... read more →

7 July 2022

Jun 29

Online sales

Consumer and business buyers are increasingly drawn to buying online. One of the lessons we all learnt during COVID lockdown restrictions was the need to turn to virtual sources in an attempt to keep supply lines and sales platforms open. There are several “shop-type” software solutions available that can be... read more →

29 June 2022

Jun 20

Nil Returns

The next time you return from a trip abroad, you will be faced with a familiar choice; whether to follow the green (Nothing to Declare) or red lanes through Customs. It is worth considering that this is one of the few reporting obligations to HMRC that does not require the... read more →

20 June 2022

Jun 15

Productivity

One challenge that is a constant for business owners is to increase productivity. If the turnaround in activity – converting time or a manufacturing process into sales – can be boosted, profits can be increase without any increase in overhead costs. What the process may involve is a review of... read more →

15 June 2022

Jun 07

Paying back loans

Businesses and individuals that are starting to produce positive cashflows – and there are still a few – may be looking at the balance owing on loans taken out during the tensions of the coronavirus outbreak and thinking that they should pay them off. But it is worth considering what... read more →

7 June 2022

May 26

New measures to help with the cost-of-living crisis

As expected, the Chancellor, Rishi Sunak has announced a new package of support measures in a statement to the House of Commons on 26 May 2022. The measures will be targeted to the most vulnerable members of society in a total package of measures that we are told will cost... read more →

26 May 2022

May 26

Affiliate marketing

One way to broaden the reach for your products and services is to enter into affiliate relationships with individuals or businesses to sell your products on a commission basis. Affiliate marketing is defined as a type of performance-based marketing in which a business rewards one or more affiliates for each... read more →

26 May 2022

May 24

Future challenges for tax advisers

Aside from the need to consider the realignment of basis periods for self-employed clients and minimising the effects of the Corporation Tax hike next year, a major challenge for practitioners will be ‘getting ready’ for MTD April 2024. Initially, it will only affect targeted self-employed traders and unincorporated property businesses,... read more →

24 May 2022

May 18

Blogging

Most businesses want to be noticed. This is particularly so regarding the internet. Many pay to advertise their presence on the web. There is a whole industry that has developed to promote this “pay per click” activity. But there is another way to establish your brand on the web, blogging.... read more →

18 May 2022

May 10

Beat cost increases by sharing costs

Most businesses want to be independent. But there may be advantages in a co-operative approach. Could you share costs with business neighbours? These could include: Setting up a community Wi-Fi source for a number of businesses. Sharing unused office or storage space. Negotiating insurance cover on an “estate” basis to... read more →

10 May 2022

May 03

Starting a new business?

Before you consider the most appropriate vehicle for your business, a limited company or self-employed, there is another issue you might want to consider. We have witnessed many individuals who were displaced, made redundant, by downturns in the economy. Understandably, the insecurity this experience breeds leads to a yen to... read more →

3 May 2022

Apr 19

HMRC names avoidance scheme promoters

HMRC has used new legal powers to name tax avoidance schemes and their promoters, for the first time. The aim of HMRC is that by warning the public not to get caught up in tax avoidance the incidence of taxpayers availing themselves of these schemes will be reduced. Two schemes... read more →

19 April 2022

Apr 11

Eggs in one basket

Most employed persons have one source of income, their salary. If they lose this source of income, they are reliant on savings, going into debt and/or claiming state benefits to tide themselves over until they can find another job. In terms of income security this is the highest risk category.... read more →

11 April 2022

Mar 30

Any surprises in the Spring Statement?

With inflation projected to peak in excess of 8% this year, anyone on a fixed income, the State Pension for example, needs an increase of 8% to stand still. Unfortunately, the State Pension is increasing by 3% and so in real terms, pensioners with no other sources of income will... read more →

30 March 2022

Mar 16

How tight is your belt?

The Chancellor of the Exchequer, Rishi Sunak, has commissioned the Office for Budget Responsibility (OBR) to produce an economic and fiscal forecast for Wednesday 23 March 2022, as per the Charter for Budget Responsibility. The Budget Responsibility and National Audit Act 2011 states that the OBR must produce a forecast... read more →

16 March 2022

Mar 09

Keep talking

During the past two years we have become used to online meetings and facetime calls to keep in touch with business associates, staff and friends. Now that restrictions are easing it is worth reconsidering the value of a face-to-face conversation. Psychologists would point to the non-verbal cues that are lost... read more →

9 March 2022

Mar 01

A step closer to an online sales tax?

Our government is now consulting with interested parties to explore the arguments for and against an Online Sales Tax (OST). The OST is being considered as a way to level the retail playing field by taxing online retailers and using the funding to reduce the impact of rates on high... read more →

1 March 2022

Feb 24

Normality

On the 21 February 2022, the Prime Minister gave a press conference and announced wide-ranging changes to the regulations introduced to restrict the spread of coronavirus. Government seems concerned that we learn to live with continuing COVID-19 infections without the past restrictions to our social mobility and ability to run... read more →

24 February 2022

Feb 17

Supplementing pension income

When you made the decision to retire from your business or employment economic circumstances may have been far different to those we find ourselves in today. Although current growth rates are clawing back the losses we experienced during the last two years, interest rates seem to be on the rise... read more →

17 February 2022

Feb 10

Managing risk

Every business endeavour carries with it an element of risk. For example: Customers failing to pay their bills, Business owners falling sick, Failing to reserve sufficient funds to pay bills, expenses, and taxes, Miss-managing relationship with banks. And let’s not forget, being subject to unexpected economic disruption as we have... read more →

10 February 2022

Feb 02

Employing young people

Many business owners, with energetic children, may want to offer their offspring a chance to gain some work experience and shift the funding of their children’s expenses from after-taxed income to a business expense. You can employ young people aged 13 or over, but only part-time. Once they reach the... read more →

2 February 2022

Jan 28

Utilising pension pots

Do you have a self-invested personal pension plan (SIPP) that allows you a certain amount of flexibility on how your fund is invested? You may find that your fund could invest in commercial property. Do you rent your present business premises? If the answer to both these questions is yes,... read more →

28 January 2022

Jan 18

The new SA online filing deadline?

Although the Self-Assessment online filing deadline remains 31 January, effectively, for this year at least, it is 28 February, if you want to avoid late filing penalties. Is this a good thing for practitioners? Feedback we have received would indicate the opposite, that extending the late filing penalty deadline means... read more →

18 January 2022

Dec 22

New £1bn support package announced

The Chancellor, Rishi Sunak has announced a new £1bn support package for businesses most impacted by the highly transmissible Omicron variant that is sweeping across the UK. The biggest single measure is the re-introduction of one-off grants of up to £6,000 for businesses in the hospitality and leisure sectors (in England)... read more →

22 December 2021

Nov 16

Quicksand

The first reaction to walking into quicksand must be panic. There is no quick change of circumstance, the hapless adventurer forced to consider their fate in slow motion. What they desperately need at that point is someone on terra firma to throw them a lifeline. Many of your clients have... read more →

16 November 2021

Oct 15

The debate continues

The summary findings of the Office of Tax Simplification (OTS) into this long-anticipated change in the tax year end date is reproduced below. Common sense would dictate that the date be changed to 31 March (from 5 April), and we would all be lined up, with no overlapping period ends,... read more →

15 October 2021

Sep 24

Revamp of retained EU legislation

According to a recent government press release, new plans to capitalise on the freedoms from Brexit so that our rules and regulations best serve the UK national interest was announced by Minister of State at the Cabinet Office, Lord Frost. Thousands of individual EU regulations automatically kept on the statute... read more →

24 September 2021

Aug 18

Low carbon auto-tech gets funding boost

Electric vehicle (EV) batteries with a range similar to internal combustion engines which can charge in as little as 12 minutes are among projects awarded £91 million of government and industry funding to develop the latest green automotive technology. Four projects have been awarded funding through the Advanced Propulsion Centre... read more →

18 August 2021

Jul 19

Card security update

VISA have issued information regarding changes to card processing security from September 2021. The idea is to reduce online fraud. The changes will apply across Europe. A key part of the new security arrangements is the requirement for Strong Customer Authentication (SCA). This means you may be asked to provide... read more →

19 July 2021

Jun 28

Less is more

Remember Parkinson’s Law? Parkinson's Law is the adage that work expands to fill the time allotted. Put simply, the amount of work required adjusts to the time available for its completion. The term was first coined by Cyril Northcote Parkinson in a humorous essay he wrote for the Economist in... read more →

28 June 2021

Jun 01

Binary thinking

Most of us believe that when you spend money the only impact is to reduce the amount of cash in your wallet or purse or bank account. Accountants, educated to view the world through double-entry lenses, see two impacts. The debit and the credit. Bank account credited and expenses, assets... read more →

1 June 2021

Apr 26

Negative interest rates

The Bank of England uses interest rate reductions to stimulate the economy if spending is weak and increases interest rates if they feel the economy is overheating. The current problem the bank has is that current interest rates are at an all time low. At the most recent base rate... read more →

26 April 2021

Mar 22

Ready, steady…?

The UK government has been spectacularly successful in shutting down vast swathes of the UK economy in their efforts to control the COVID pandemic. What will happen next? Will we see the gradual release of restrictions as the vaccination program starts to impact infection rates, and more importantly, the pressure... read more →

22 March 2021

Feb 18

What will Rishi Sunak do next?

In our blog post last month we said: This year, it is likely that there will be far more unfiled SA returns than in previous years. Perhaps common-sense will prevail. HMRC may not be willing to endorse a blanket extension of the 31 January deadline, but they could cancel the... read more →

18 February 2021

Jan 25

Will they move the finishing line?

The major accountancy bodies have lobbied HMRC to extend the 2019-20, SA filing deadline. Whilst seeming to have sympathy for small businesses and tax payers that have found it difficult this year to keep up-to-date with their tax affairs, HMRC are unwilling – at this stage – to offer a... read more →

25 January 2021

Dec 17

The end of uncertainty?

The year 2020 must go down in the history books as the year that defined uncertainty. The outcome of a Brexit trade agreement - uncertain and the extent of COVID disruption - uncertain. These are not minor concerns. Business plans prepared this time last year, and created before the impact... read more →

17 December 2020

Nov 16

Gathering information

When many of your clients are struggling with the effects of COVID-19 on their businesses and their personal lives it is hardly surprising that providing you with details for the 2020 tax return is way down on their list of priorities. It is doubtful that the threat of an impending... read more →

16 November 2020

Oct 13

Fear, support and fees

Many practitioners will have grappled with an acute conundrum in the past few months. Do you support clients on a pro bono or reduced fee basis – if they are strapped for cash - or refuse unless paid, and watch them disappear from your client list? This apparent conflict for... read more →

13 October 2020

Oct 06

How much change can accountants accommodate?

Since the Chancellor first stood up to announce his support initiatives to counter COVID disruption earlier this year, accountants have had to accommodate almost monthly changes to payroll and other services in order to keep clients best supported by the grants and loans offered. This has taken its toll. It's... read more →

6 October 2020

Sep 11

Supporting insolvency?

Many companies have taken advantage of COVID related soft loans to provide them with sufficient cashflow to ride-out coronavirus disruption. But does this do no more than push the ball down the road? Advisers are likely working hard to assist their business clients extend the benefits of government largesse –... read more →

11 September 2020

Aug 12

Supporting success

What does success look like in the midst of COVID-19 issues and the impending Brexit cliff-edge? Most would agree that financial success means achieving profits and minimising distribution of profits such that a business' net worth continues to rise. But does this definition hold good in today’s turbulent markets? A... read more →

12 August 2020

Jul 15

Don’t forget about Brexit

Coronavirus has dominated the news since it reared its head earlier this year. But don’t forget that there is a further call on our attention - Brexit. Business clients that have any direct trade links with EU customers or suppliers are advised by the Government that from 1 January 2021... read more →

15 July 2020

Jun 16

Planning may be our only salvation

If there was ever a time when accountants needed to step up to the demands of the moment, this is it. In May 2020, UK’s output fell by over 20%. We can expect further downside falls. This is staggering. It will even dwarf the economic rift caused by the Great... read more →

16 June 2020

May 17

The end in sight?

It is now eight weeks since our world was turned upside down by the coronavirus and lock-down. Last week, the first signs of an easing in the disruption this process has created for businesses in the UK were announced, but there are still many businesses facing ruin or starting over.... read more →

17 May 2020

Apr 17

Problems create opportunity

Like most businesses in the UK, Informanagement has decamped, and all our staff still working are based at home. We are pleased to announce that our news feeds continue to roll off “the press” as usual, and there is much to report. As most of our content is delivered electronically,... read more →

17 April 2020

Feb 17

Budget 2020

Historically, there has always been a healthy separation of powers between numbers 10 and 11 Downing Street. The Treasury and Chancellor in some ways have acted to curb the wilder instincts of number 10, the Prime Minister and the rest of the cabinet. Last week, this uneasy split in government... read more →

17 February 2020

Jan 31

How to make your website work harder for you

Your website is your practices’ virtual face online. Having a poorly designed or functioning website will lose you business. In fact, 94% of people don’t trust an outdated website and 75% of people base the credibility of an accountant on the website they have. So, as you can see it’s... read more →

31 January 2020

Jan 31

Make yourself an adviser rather than a form filler!

For most small practices the majority of the year is spent running from one deadline to another, making sure clients don’t incur unnecessary fines for the late submission of documents and returns. That is not the way, now we are in 2020, of running a successful practice. There are a... read more →

31 January 2020

Jan 09

Back to normal

There is a palpable relaxation of tension across the UK economy as the political uncertainties of 2019 are finally resolved. We now have a government with a working majority. Aside from resolving the Brexit hiatus there is much catching-up to do, not least the presentation of the much delayed budget,... read more →

9 January 2020

Jan 03

Who advises the advisers?

Whatever your political point of view there is no denying that 2020 will likely be a challenging year for professional advisers. As we detach from the EU, supply chain issues and price adjustments to reflect changing terms of trade with Europe will impact UK business profits and net worth. There... read more →

3 January 2020

Dec 18

Backup options

You can be sure that companies offering cloud accounting solutions are rigorous in backing up their users’ data; after all, if they had a major system crash and lost all of their customers’ data they would be out of business. But does that mean that users can relax and ignore... read more →

18 December 2019

Dec 18

Landslide

What an extraordinary result for the Conservatives. Die-hard Labour supporters voting for the Blues for the first time. For readers who missed our post last week we have copied in what can be expected in the new government’s first Budget – expected early February 2020 – and we can expect... read more →

18 December 2019

Dec 12

Keeping clients in the loop

In the world of electronics, the phrase “in the loop” has a logical function. For example, if A is true do X, if A is false do Y. In the 1960s this phrase was adopted to aircraft control systems, and in particular, when should the pilot be bought back into... read more →

12 December 2019

Dec 11

Election – what can we expect?

Readers of this post will probably be aware of the December election results – this post was written the day before the election. What can we expect? Here’s a quick summary of what the two main parties have promised to enact from a tax point of view. It remains to... read more →

11 December 2019

Dec 05

How safe are your passwords?

Ever wondered how long it would take to crack your online passwords? Unfortunately, this can be automated by nerd-like characters setting in motion decryption software that can wade through endless iterations of keyboard characters in nanoseconds (this is one thousand millionth of a second). If you want to test the... read more →

5 December 2019

Dec 05

Treasury hiatus

To demonstrate just how held-back government activity has become it is worth scanning news and press releases issued by the Treasury/HMRC in recent weeks. In November 2019, there were six posts in the “Money” section. It is possible to imagine Whitehall mandarins scratching their heads as their political bosses frantically... read more →

5 December 2019

Nov 28

A tax hit of over 70%

Past governments – from both sides of the House - would no doubt be amazed to learn that their convoluted tax code is now conspiring to produce weighty tax charges. The highest published rate of tax is the additional rate of Income Tax. At 45% it pips Inheritance Tax at... read more →

28 November 2019

Nov 28

Fake news HMRC style

HMRC published a news item on the gov.uk website last week. As this was related to client tax issues we published reference to this update on our newsfeed. There are reports that: “Over the last year, HMRC received nearly 900,000 reports from the public about suspicious HMRC contact – phone calls, texts or emails.... read more →

28 November 2019

Nov 21

Search out the good news

News is a curious commodity. Currently, it is difficult to separate fact from fiction. For example, belief in certain political utterances may induce depression when in fact the opposite may be the case and celebration may be the order of the day. Should we therefore be selective about our exposure?... read more →

21 November 2019

Nov 21

Hiatus

Hiatus is defined as a break or interruption in the continuity of work, action etc. The present Brexit uncertainty and the extended political stalemate is a perfect example. The problem for the accountancy profession is that its work and actions are having to continue in the face of these external... read more →

21 November 2019

Nov 14

Long-term risks from flooding?

Our thoughts and best wishes go out to LinkedIn colleagues affected by the recent floods across the UK. Rising water is remorseless and makes no distinctions, disrupting our homes, working environment and transport networks. Responsibility for dealing with these risks is the Department for the Environment and countryside. Although government... read more →

14 November 2019

Nov 14

Referral requests

On the assumption that we are all providing a good service, and one that is valued by our customers, how often do we request a referral? Do you feel slightly uneasy about asking for a referral? After all, if a customer is minded to recommend us perhaps it’s best left... read more →

14 November 2019

Nov 07

Testimonials enter the mainstream

We are all exhorted to embrace the power of a good testimonial as a means to enhance our brand and increase sales. After all, a third-party compliment is an objective statement and of more value than merely blowing our own trumpet. A recent news article published by Companies House underlines... read more →

7 November 2019

Oct 30

Election date confirmed

Last week we posted about the continuing political uncertainties, no budget, no Brexit, and this week parliament has about-faced and confirmed that we will have a general election, on 12th December 2019. More uncertainty? If a new government is in post and raring to go, what flavour of fiscal policy... read more →

30 October 2019

Oct 30

Robots?

In a rather bizarre press release, the Department for Business has suggested that care robots could revolutionise the UK care system and provide the required and much needed extra “staff” support. And yet the Department’s press release is a serious proposition. They said: The UK moves one step closer to... read more →

30 October 2019

Oct 24

Why rush?

Tax practitioners are approaching the dreaded “tax season”, a period where they battle with clients to extract the data required to complete self-assessment tax returns before the filing deadline. For non-accountants reading this post, the deadline for filing the 2018-19 return is 31 January 2020 – one hundred days to... read more →

24 October 2019

Oct 17

Tax haven UK?

If Brexit is concluded at the end of this month and if the present government continues in office or wins the next election, will recent promises to reduce the tax footprint become a reality; will the UK be promoted as the low-tax place to be? What are these promises? Will... read more →

17 October 2019

Oct 17

Give us a break

Bank holidays are not just for your bank manager, we are all entitled. However, our employers are not obligated to pay us for the time off, although the majority do. If a bank holiday is on a weekend, a ‘substitute’ weekday becomes a bank holiday, normally the following Monday. And... read more →

17 October 2019

Oct 10

Brexit drones on…

Practitioners might like to take a look at an update posted to the Gov.uk website, 8 October. The title is instructive: Brexit readiness report published. https://www.gov.uk/government/news/brexit-readiness-report-published The basic text is reproduced below: The Government has put forward serious and reasonable proposals to the EU and continues to work at pace... read more →

10 October 2019

Oct 10

One liners for your Christmas bash

I came across a site today: https://jokes4us.com where I found a list of “Accountants one liner jokes”, reproduced below. Food for thought here if you are an accountant: Why accountants don't read novels? Because the only numbers in them are page numbers. If an accountant's wife cannot sleep, what does... read more →

10 October 2019

Oct 03

A re-run of Y2K?

Most of us will remember the paranoia that fuelled the run-up to midnight, 31 December 1999. At the stroke of mid-night computer systems across the globe were supposed to crash as their outdated code failed to recognise the year 2000. Most software at that time stored dates as 01/01/99, instead... read more →

3 October 2019

Oct 02

When was the last time you edited your contacts list?

If you hold the contact details for clients or other business associates in your Outlook contacts for example, do be mindful that if you no longer have a business relationship with that contact you may need to hit the delete button. Many of the contacts will have been added before... read more →

2 October 2019

Sep 27

More government advice on Brexit

LinkedIn members who have business interests in the EU are likely pulling their hair out as uncertainty continues to plague the eventual outcome of the current wrangling in Parliament over Brexit. To get a sense of where the government would like us to be, 'out', even this means a no-deal... read more →

27 September 2019

Sep 26

Are you match-fit?

Accountants are in a privileged position: they serve the interests of numerous businesses that look to them for advice. In some respects, they are like business trainers, they prepare clients for the rigour of building a business by getting them “match-fit”: accumulating the necessary resources and skills to deal with... read more →

26 September 2019

Sep 19

Time for optimism

Much has been prophesied about the effects of Brexit, the trade war between the US and China and continuing unrest in the Middle East. All are predicted to slow-down economic growth. If these forecasts prove to be true, should we retreat to our bunkers, cut costs, cancel new investment and... read more →

19 September 2019

Sep 19

Do you undertake audits?

Clients and contacts interested in matters that affect the accountancy market may have noticed press commentary recently regarding a “well-known”, listed, sports retailer that is unable to find an auditor. None of the big four firms is willing to act, for a variety of reasons, and it is doubtful if... read more →

19 September 2019

Sep 13

About face

Government bowed to pressure from lobby groups and agreed to an about face on the VAT changes for the construction industry this week. Prior to this change, 1 October 2019 would have seen a radical shift in the billing and accounting requirement for VAT registered sub-contractors and their contractor customers,... read more →

13 September 2019

Sep 05

Uncertainty

There is a new expression that is gaining traction as the Brexit saga lurches towards its uncertain future. It assumes that not knowing something is as damaging as knowing something that you perceive is actually damaging. In the context of Brexit, uncertainty usually refers to the will we won’t we... read more →

5 September 2019

Sep 05

Time for some R & R?

We are approaching the festive end of the year and although 2019 is proving anything but a cause for celebration, we are likely turning our minds to the planning of our annual – end of year – bash. Informanagement recently posted an annual reminder of the strategy you should employ... read more →

5 September 2019

Sep 02

Emails

Emails have been established as one of the prime ways to exchange information. Long gone are the days of signing letters and buying postage stamps. And yet the technology has created its own issues, not least of which is the hijacking of our email accounts. Trying to outwit the nefarious... read more →

2 September 2019

Sep 02

Do you know what prorogue means?

The word prorogue has a very specific meaning. The online dictionaries are in broad agreement that it is: …to discontinue a session of (a parliament or other legislative assembly) without dissolving it… According to recent political commentary, any attempt by the present cabinet to prorogue parliament in order to stop... read more →

2 September 2019

Aug 23

When problems are opportunities

Businesses that sell services are basically offering a solution that the buyer is unwilling, or unable, to provide for themselves. Accountants are getting the message: that solutions to problems can be packaged as service products. Most practitioners would raise their hands if asked to confirm if they had researched and... read more →

23 August 2019

Aug 22

Do you visit the EU for business purposes?

The changes faced by importers and exporters to the EU after Brexit have been well documented, but what about individuals who will be travelling to EU destinations for business purposes? Consider the plight of musicians and entertainers who have bookings at EU venues after 31 October 2019. In a no-deal... read more →

22 August 2019

Aug 20

Change and opportunity

If, like most businesses, you are faced with the constant need to keep up-to-date, to move your business forwards, it is worth reflecting on any positive spin you could apply to the apparent hassle these changes cause. This should be of interest to accountants as any changes in legislation presumably... read more →

20 August 2019

Aug 19

Do you move goods between the EU and GB?

Part of our news copy recently, has focused on the practical difficulties UK businesses will face if there is a no-deal Brexit. If your company moves goods between the EU and the UK, you should make sure you have a valid Economic Operator Registration and Identification number (EORI). Without an... read more →

19 August 2019

Aug 13

Useful links

Although the gov.uk website is littered with impenetrable text and political one-upmanship very occasionally, a rather useful feature appears. We have listed a number of these resources below: Not sure if you taxed your car or when is the next MOT is due? One of the serious drawbacks of the... read more →

13 August 2019

Aug 10

Do you have a Nationwide current account?

Nationwide seem to have disregarded retail banking regulations and have undertaken to refund £6m to affected customers. Might you be due a share of this? The press release published 8 August 2019 says: Nationwide has committed to refund £6m to affected current account customers after it broke a legal order... read more →

10 August 2019

Aug 01

Digital technology competition

Do you have clients that are self-funding projects to improve their manufacturing processes? If you do, the following announcement by Innovate UK and UK Research and Innovation may prove to be of interest. The press release, dated 25 July 2019, says: The Industrial Strategy Challenge Fund (ISCF) has up to... read more →

1 August 2019

Aug 01

How adaptable is your business?

Most businesses thrive when they can be certain of just a few basic indicators. In a nut-shell they include: Low interest rates – the cost of money has been relatively low now for some years which has encouraged investment. Continuity of supply and price – we all need certainty that... read more →

1 August 2019

Jul 24

Hot tips for staying cool

The apparent contradiction in the title of this post is noted! When writing this blog, it is expected that the highest temperature ever recorded in the UK will be broken this week. Which is fine if you are recumbent in a hammock slung between palm trees, sipping your favourite drink... read more →

24 July 2019

Jul 18

Gathering contacts

Informanagement provides professionals with the content and means to deliver this content to as many people as you can legitimately sign up to your newsletter lists. Classic marketing technique recommends that we fill our sales pipe-line with as many of these contacts as we can; the more we add to... read more →

18 July 2019

Jul 11

Are you a good learner?

Does your business/employer transfer any new information that comes into your business from update sources, into new or improved products and services? For example, as the evidence that we are heading towards a possible no-deal exit from the EU increases, have you researched and integrated a risk-assessment policy for your... read more →

11 July 2019

Jul 10

Keeping up-to-date

Information is a double-edged sword. Not only do you need access to information, you also have to do something with the information you have accessed. There are two obvious choices: Discard information that has no use or relevance to your circumstances, or Make use of the new information to improve... read more →

10 July 2019

Jul 03

Familiarity, does it always breed contempt?

We are all familiar with the sales cycle; the repetitive messaging that eventually converts some of our approaches into warm leads and onwards to a sale, but isn’t that the start of a different cycle? The phrase “familiarity breeds contempt” was first coined by Chaucer in the fourteenth century. In... read more →

3 July 2019

Jul 03

What is CCS?

At some time during 2010 to 2017, HMRC booted up a piece of fully integrated computer hardware that has likely transformed their ability to unearth tax-dodgers. During this period a number of data sources were accessed. The Connect Computer System (CCS) has the ability to gather data from disparate sources... read more →

3 July 2019

Jun 28

Name and shame

During May and June, HMRC published details of deliberate tax defaulters and businesses not complying with money laundering regulations in 2018-19. In their introduction to the deliberate tax defaulters list, HMRC said: Each entry on this list is specific to the default dates to which it refers. The address is... read more →

28 June 2019

Jun 20

How big is your LinkedIn network?

According to well researched science we are all just six random contacts away from being in touch with anyone living on the planet. This “six degrees of separation” theory was first mooted in the 1920s and has received much attention by mathematicians ever since. To work, it seems that the... read more →

20 June 2019

Jun 19

How much advice do you give away?

There is a difference between flagging up an issue that could be a problem and offering a solution. Most professionals sell solutions and so offering advice without agreeing that you be paid for giving that advice seems to be counter intuitive, and yet most professionals seem to do this. Why... read more →

19 June 2019

Jun 13

Any ideas to free up time?

We have posted an article to our Informanagement blog this week entitled “Stressed Out?” (click here to view). It deals with issues raised by the constant need to communicate with staff, clients and the multitude of online distractions. So, we thought we would add to these distractions (!) and request... read more →

13 June 2019

Jun 12

Stressed out?

Communications come at us from multiple directions these days, and they all break our concentration. The effect on our demeanour can be the equivalent to sleep deprivation and stress levels start to rise. Setting boundaries is one way to deal with this problem, a nice, fat DO NOT DISTURB note... read more →

12 June 2019

Jun 07

What price do we attach to data security

We are all required to embrace the digital reality. Could we really do business without email or without access to the internet? Speed of access is the current obsession: bandwidth matters, fibre matters, but what price do we attach to security? How many of us still have a “standard” password... read more →

7 June 2019

Jun 06

Do you have a company car?

If you have access to a company car, as an employee or director, you will be taxed on the use of the car as a benefit in kind. The amount of the benefit depends on the CO2 rating of the vehicle. For the last tax year, 2018-19, the amount of... read more →

6 June 2019

May 30

No deal

There are a bunch of phrases that have attached themselves to the Brexit debate and perhaps none is more potent than “No deal”. Analysis of the EU votes last week seem to indicate that the Brexiteers and Remainers are still split 50:50. If it could agree on a majority opinion,... read more →

30 May 2019

May 29

Are you a happy customer?

At some past event, an HMRC huddle seems to have resolved that taxpayers would respond more positively if referred to as “customers”. Did anyone out there experience a warm glow the last time HMRC called you a customer? Doesn’t the word customer imply an exchange of value based on a... read more →

29 May 2019

May 22

Full fibre broadband for all

The government has announced a £200m roll-out of the so-called full fibre connectivity in an attempt to boost the internet efficiency of rural schools, businesses and homes that presently struggle with sub-gigabyte connections. In a recent press release they said: The starting gun has been fired on a programme to... read more →

22 May 2019

May 22

Keeping LinkedIn safe

In a post earlier this month, the LinkedIn Corporate Communications Team posted an update on their efforts to keep the LinkedIn platform a safe place to be. The article is reproduced in part below. Their efforts in this area are to be applauded and are a reminder that we all... read more →

22 May 2019

May 21

Updates of interest from gov.uk

It would seem that there is a semblance of activity in government circles even if the politicians are in limbo as they continue their efforts to solve the EU exit strategy. This week we have highlighted a number of posts made to the GOV.UK site that might be of interest... read more →

21 May 2019

May 21

Managing your Inbox

Are you in control of your email inbox or are you dismayed by the ever growing list that is accumulating? If the latter, read on. The following are a bunch of strategies that may help. Don’t leave your email inbox showing on screen, all the time.Flag obvious spam emails as... read more →

21 May 2019

May 09

Current make-up of UK coins to be maintained

Whilst most of us would shed no tears if the 1p and/or 2p bronze coins were discontinued there are industries where adapting vending machines or pricing structures to eliminate 1, 2, 3, 6, 7, 8 or 9p prices would be problematic. For example, the 2p amusement games that litter arcades... read more →

9 May 2019

May 08

Something for next to nothing

Your clients no doubt expect to be charged for the advice you give. If they don’t, then either you are giving advice away free-of-charge or you are advising clients who are unappreciative and unwilling to pay a reasonable price for the advice you provide. If the latter scenario applies, then... read more →

8 May 2019

May 02

Cyber security

Readers working in industries or advising companies that provide consumer products linking with the internet may be interested in a government initiative to improve cyber security by introducing new laws for internet connected devices. A recent press release issues by the Department for Digital, Culture, Media and Sports states: Options... read more →

2 May 2019

May 02

Persistence

Last week we posted about accessibility. This week we are considering persistence. The two are linked: if accessibility is an issue, continued efforts to communicate is the only way that action can be moved forward. The word persistence resonates with other qualities: perseverance, tenacity, determination, resolve and so forth. And... read more →

2 May 2019

Apr 29

The pressure to comply

Business owners and all taxpayers, that’s most of us, are required to comply with the numerous regulations set out in the UK tax code and companies acts’ legislation. There is no choice in this process. If your circumstances fit the brief – you are self-employed, pay tax, have a company... read more →

29 April 2019

Apr 29

Seasonal trends

Informanagement sells newsfeed and other content services to the accountancy profession. As such, we have become aware of the seasonal nature of the compliance services offered by firms and how this affects their availability. This is our take on this annual cycle. January: the bunker closes and it’s all hands... read more →

29 April 2019

Apr 18

The Big 4

Outside the accountancy profession, and certain academic circles, the Big 4 would be assumed to be a variation of a Big Mac, or some souped-up engine configuration for a gas-guzzling vehicle. In fact, it refers to the four major audit firms that between them audit most of our major businesses,... read more →

18 April 2019

Apr 18

What are we waiting for?

The present hiatus on the “B” word issue – leaving the EU is fast outpacing all other front runners as the issue to avoid talking about – begs the question where do we go from here? What are we waiting for? All of us managing a business with any connections... read more →

18 April 2019

Apr 11

Anti-money laundering compliance

This week, the Office for Professional Body AML Supervision (OPBAS) released a report on the AML supervision provided to practicing members by the legal and accountancy Professional Body Supervisors (PBS). The report was damning. PBS are failing to support and regulate their members in accordance with the demands of AML... read more →

11 April 2019

Apr 10

Unfair competition in the construction sector

Advisors or individuals reading this blog, and with interests in the construction sector, may like to take a look at the press release recently published by the Competition and Markets Authority (CMA). The CMA has provisionally found that three businesses formed a cartel to reduce competition and keep prices up.... read more →

10 April 2019

Apr 06

Dormant assets scheme to be extended

Presently, dormant bank accounts can be appropriated, in certain circumstances, and the funds used for charitable purposes. And before you rush out to your bank to check that your account balance has not been hijacked in this way, banks and building societies can only transfer funds to good causes from... read more →

6 April 2019

Apr 05

Making Tax Digital

As all practitioners will be aware, the MTD for VAT regulations as they apply to VAT registered traders – with turnover above £85,000 – became law on 1 April 2019. In practical terms this means that any VAT return filed with a commencement date from 1 April 2019, will need... read more →

5 April 2019

Mar 28

When do you know it all?

We can all remember occasions when we have prevaricated, when we have found reasons to avoid decisions. For professionals this is usually, although not exclusively, due to “unknowns” that require further research. Which leads on to a remarkable realisation: we all know what we know, we have a good idea... read more →

28 March 2019

Mar 28

Late payments

Readers might be interested to know that you have certain rights to charge interest if your customers are late in paying your bills. This may not prudent in certain circumstances, primarily if you want to continue selling to them, but if your relationship has broken down you can charge interest... read more →

28 March 2019

Mar 25

Pensions shakeup

Last week, the Department of Works and Pensions announced a shake-up of the financial advice services used by pension schemes. They said: Opening up the market for financial advice services used by pension schemes will help trustees get better value for money, boost members’ retirement funds and reduce employers’ shortfalls,... read more →

25 March 2019

Mar 25

Speed of exit has slowed

It would seem that the EU are as anxious as many in the UK that we avoid a no-deal Brexit. News broke towards the end of last week that a postponement process has been agreed by the EU parliament, albeit for a few weeks. Time for our jaded politicians to... read more →

25 March 2019

Mar 15

A bit of light relief

Our editors have come up with another “re-interpretation” of posts made to the gov.uk website this week. Please note that comments added are entirely fictitious and any resemblance to the truth is purely accidental… Norovirus and rotavirus: summary of surveillance 2018-19 - Department of Health inspectors caught red-nosed sneezing in... read more →

15 March 2019

Mar 15

Oh, dear me

The airways are jammed with discussion of the Brexit pantomime. What we seem to be witnessing is a breakdown in our democratic processes that is unparalleled in recent times. Are we leaving the EU, will it be a soft or a hard landing, and when will it happen? The whole... read more →

15 March 2019

Mar 08

Do you have any estate agent friends?

Readers who have business colleagues working as estate agents might like to pass on the following press release details posted this week. It says: HMRC officers visited 50 estate agents across England after they were suspected of trading without being registered as required under money laundering regulations. The visits came as HMRC published... read more →

8 March 2019

Mar 07

How long can you hold your breath?

According to the Guinness Book of Records, the longest time a person has held their breath, and has lived to tell the tale, was an incredible 24 minutes and 3 seconds. This act of voluntary and conscious sleep apnoea resonates with the UK’s present faltering steps towards separation from the... read more →

7 March 2019

Feb 28

Ditch paper receipts?

In a post on the gov.uk website this month the Treasury have observed that 65% of senior decision makers confess to losing or not keeping receipts. They posted: Senior Decision Makers in finance and accounting admit to not being the best at keeping receipts, as 65% confess to having lost... read more →

28 February 2019

Feb 27

Securing UK benefits if you work abroad for a period

This week we posted an article on our newsfeed that set out the broad issues that need to be addressed, from a National Insurance perspective, if UK residents move abroad. The article says: If you move abroad it can often be advantageous to continue paying your UK National Insurance Contributions... read more →

27 February 2019

Feb 21

Chicken or the egg?

It’s interesting to consider which comes first, marketing a service or creating and maintaining the service? Common sense would dictate that you can’t market a service that doesn’t exist or market a service that compares badly to services offered by competitors. But how many of us pay lip service to... read more →

21 February 2019

Feb 15

What’s your take on communication?

Accountancy, as with most professions, demands the use of precise language to describe accurately, what is being communicated. To non-accountants, this specialist “language” is charitably described as jargon. The use of technical jargon is quite acceptable if both or all the parties to a conversation are accountants; unfortunately, problems arise... read more →

15 February 2019

Feb 15

The next deadline

Having dealt with the 2017-18 filing deadline, tax professionals across the UK will be turning their attention to the following year, 2018-19, and opportunities to revisit tax planning for those clients who have previously resisted, or showed little interest, in strategies to reduce their tax footprint in the current tax... read more →

15 February 2019

Feb 06

Six degrees of separation – does this hold water?

In a blog post to our site today we challenged practitioners to look at the risks to business activity post Brexit and what the profession should be offering clients to survive any downturn in activity. In particular, we discussed how we are all connected, via our own business contacts, to... read more →

6 February 2019

Feb 06

Can you hear the white-water?

The tax return season is completed for yet another year and there is an opportunity for practitioners to sit back, take a deep breath, and consider their practice development options for 2019-20. Firms that have always relied upon client referrals to generate new growth might be advised to consider other... read more →

6 February 2019

Jan 31

Online marketing or face to face interaction

It would be interesting to draw together data recording the likely percentage strike rate from online marketing techniques – email campaigns for example – as compared with good old fashioned face-to-face sales appointments? Has email marketing had its day? Do we react differently now to the countless numbers of requests... read more →

31 January 2019

Jan 31

HMRC – advisers, enforcers or naggers?

There is content on AccountingWeb this week commenting on the use of mobile numbers given to authenticate login details, being used to send text messages “nagging” taxpayers to complete their tax return. Leaving aside the data protection issues, do we really want to be bombarded by the tax office texting... read more →

31 January 2019

Jan 24

Are HMRC developing a corporate sense of humour?

The deadline for submitting self-assessment returns and paying tax for 2017-18 is upon us. If you are reading this after 31 January, hopefully, your return is filed and tax is paid? HMRC have recently posted a rather humorous take on the excuses that tax payers have cited for late filing... read more →

24 January 2019

Jan 23

Finishing line is in sight

The partners and tax support staff at most accountancy practices will draw a collective sigh of relief next week as the frenetic activity to file clients’ SA returns before the end of the January deadline passes. Interestingly, the first of February this year is a Friday and we wonder how... read more →

23 January 2019

Jan 17

Mrs May’s deal didn’t pass muster

Another chaotic week of UK politics and we still don’t know if Brexit is going to happen, or if it does, what it’s going to look like. Both major parties seem to be dealing with internal divisions on the topic and it’s difficult to see how the present hiatus can... read more →

17 January 2019

Jan 11

Brexit no-deal and passports

A reminder that if we do crash out of the EU with no deal you will need to review your passport and in particular be aware of the rules for travel to EU countries. Advice posted on the GOV.UK website on this topic says: The rules for travel to most... read more →

11 January 2019

Jan 10

Who’s phishing for your data?

For phishing read fishing… the fraudulent attempt to obtain sensitive information such as usernames, passwords and credit card details by disguising as a trustworthy entity in an electronic communication. According to Wikipedia there are a bunch of other terms with similar meanings: Spear phishing – aimed at specific individuals or companies Clone phishing – where... read more →

10 January 2019

Jan 03

New Year Resolutions

Without the distraction of the self-assessment filing deadline, the beginning of the new year could be a natural time to reflect on possibilities for the coming year, rather than chasing clients for missing tax return information and motivating staff to get the returns filed before the end of the month.... read more →

3 January 2019

Dec 20

Self-employed and pensions

Much encouraged by the success of the Automatic Enrolment process that has seen more than 10m workers enrolled in pension schemes, the government are now turning their attention to the self-employed. In a recent press release from the Department for Works and Pensions, the following details were revealed: New approaches... read more →

20 December 2018

Dec 20

Challenges ahead

Many practitioners will be engrossed in the annual chore of submitting clients’ self-assessment tax returns before the 31 January deadline – that and chasing clients for missing information. The Christmas break should be a time for rest and recuperation and yet this year there are not only unfiled tax returns... read more →

20 December 2018

Dec 13

Dear oh dear…

There are generally no upside benefits from holding your breath. And, holding your breath for over two years whilst waiting for a clear sense of direction on Brexit is starting to have dire consequences for industry. Investment is the process by which businesses breathe. Investment is the life blood of... read more →

13 December 2018

Dec 05

HMRC feeling generous this Christmas?

HMRC have recently posted a press release on the GOV.uk website entitled “Christmas bonus for millions of workers”. As you no doubt consider yourself to be a worker how do you apply for this bonus? Back to the answer to that question later, first of all, we need to consider... read more →

5 December 2018

Nov 29

Feeling generous this Christmas?

I posted a copy of an Informanagement article to my Linked In group this week. If you are not already linked, you can do so here. The article covered the rules that would covert an otherwise benefit-in-kind charge for attending the annual Christmas bash, into a tax-free perk. What I... read more →

29 November 2018

Nov 29

Time for a break

There is not much to celebrate from a business perspective this year. The “B” word, the EU exit variety, has put a damper on things. So, let’s make the most of the approaching festive season to regroup, focus on our families and friends, and maybe consider just how we are... read more →

29 November 2018

Nov 22

Personalised journeys

Did you know that your personal circumstances may be influencing the price you pay for goods, especially if you are buying online? In a recent press release the government in partnership with the Competition and Markets Authority (CMA) announced: New research is to be commissioned to explore how widespread the... read more →

22 November 2018

Nov 22

HMRC giving advice?

A rather remarkable story was posted to HMRC’s website on 12 November. The context for the announcement was HMRC’s wish to be part of the Talk Money Week that ran from 12-18 November. The event was organised by Financial Capability. Their website is for employers, charities, financial services companies, researchers,... read more →

22 November 2018

Nov 16

Who says there is no money in football?

In a recently decided tax case, added to our newsfeed this week, HMRC failed in their argument that referees were employees of their management company, the Professional Game Match Officials Limited (PGMOL). The decision has saved PGMOL over £500,000 in back PAYE and NIC contributions. The article we released is... read more →

16 November 2018

Nov 16

Brexit – Draft withdrawal now agreed

The dictionary defines “agreed” as: “discussed or negotiated and then accepted by all parties.” If so, then we cannot really say that the draft withdrawal agreement presented to the cabinet this week is agreed. Apparently, a majority of the cabinet aligned with the Prime Minister that the deal negotiated is... read more →

16 November 2018

Nov 08

We live in uncertain times

It is instructive to take a look at the announcements made by government departments on business issues in the last week. In chronological order they are: Essential maintenance to online services UK Hydrographic Office receives Highly Commended STEM Inspiration Award Innovative firms capitalise on emerging technologies Five new business councils... read more →

8 November 2018

Nov 07

Budget feedback

Linked In members will no doubt be aware that there was a budget last week. No prizes if you can remember the most noteworthy tax giveaways. As expected, Brexit uncertainties continue to impede the normal running of government. Mr Hammond was keen to point out that thanks to the hard... read more →

7 November 2018

Oct 31

Ready, steady, go…

On the 24 June 2016, over two years ago, Britain voted to leave the EU. It is interesting to consider that subsequently, 29 March 2017, our government committed us to run the Brexit “marathon” on 29 March 2019, two years later. There is now just four months to go until... read more →

31 October 2018

Oct 31

Now you see it, now you don’t

Dutifully, we watched Philip Hammond deliver his latest Autumn Statement this week, and soaked up his exhortations, thanking the hard working British people for getting us out of the mess left by the previous government, or should that be the banking crisis? Apparently, the end of austerity is in sight,... read more →

31 October 2018

Oct 31

How big is your organisation?

Did you know that if your organisation has 50 or more employees they have certain rights to be informed and consulted about issues at work. For example: Employees must: be told about plans and decisions, be consulted, e.g. give their opinion on changes in working conditions, ask for a formal agreement... read more →

31 October 2018

Oct 29

Time and tide…

HMRC posted a news story on their website a few days ago. Under the intriguing bye line “Don’t let your tax return peck away at you” HMRC confirmed that there were just 100 days left to file a 2017-18 self-assessment tax return. They added: Last year, more than 11 million... read more →

29 October 2018

Oct 18

Action against terrorism

For those of you who are not in the habit of scouring the gov.uk website for newsworthy information, we have reproduced an announcement by the National Counter Terrorism Security Office that outlines their training scheme aimed at reducing attacks and saving lives. If your business is vulnerable to this type... read more →

18 October 2018

Oct 18

Fake emails

In this age of “fake news”, an accusation spoken by folks with perhaps a novel interpretation of the truth, it would seem that the authenticity of communications is drifting into realms where what is real and what is imagined to be real are forming an unintelligible mix. The same would... read more →

18 October 2018

Oct 11

Do HMRC support their customers?

It looks as if the Treasury has diverted all their resources, and much of HMRC’s, to figuring out the fiscal effects of Brexit. For example, prior to 31 July 2018, there were a constant stream on announcements issued on the subject of “money” via the gov.uk website. Since the 31... read more →

11 October 2018

Oct 10

Potential tax incentives for landlords

There has been speculation this past week that Philip Hammond may be considering tax incentives that encourage landlords to sell let property to long-term tenants, thus providing a measure of relief for younger persons who may be unable to afford to join the home ownership club. The idea mooted is... read more →

10 October 2018

Oct 05

Brain teasers

Do you like a challenge? Consider the following logic puzzle: A man, who lives on the tenth floor, takes the elevator down to the first floor every morning and goes to work. In the evening, when he comes back, on a rainy day, or if there are other people in... read more →

5 October 2018

Oct 05

Losing staff – data protection issues

Many of us will be familiar with the realisation that a member of staff that had recently left our employment seemed to be making approaches to our clients? What the departing staff person may not realise is that your client has given you permission to use their personal data, not... read more →

5 October 2018

Sep 27

Self-assessment deadline

Readers who have income they are required to disclose for the tax year 2017-18, and who are not registered for self-assessment, need to apply quickly. The deadline to register for 2017-18 self-assessment is 5 October 2018. You are required to register if: your income from self-employment was more than £1,000 -... read more →

27 September 2018

Sep 26

Consequences of hard Brexit disclosed

The government has issued a series of documents that describe, in great detail, the consequences that we will likely face in the event that we leave the EU with no agreement on our future trading relationship after 29 March 2019. The full text can be examined here. The various reports... read more →

26 September 2018

Sep 21

Under-rated skills

In order to practice, most professional accountants are qualified. For sole practitioners and smaller partnerships, this can set up tensions if staff fail to deliver to the required standards. My guess is, that many principals in accountancy firms have found themselves prevaricating between explaining to staff how to do a... read more →

21 September 2018

Sep 14

Government shifts legislative costs to software developers

HMRC’s Making Tax Digital (MTD) initiative is a classic exercise in changing the law and thereby shifting the costs of applying the changes to industry. They made it clear at the beginning of the MTD process that no software to link taxpayers’ accounting software to HMRC’s digital records would be... read more →

14 September 2018

Sep 13

Small businesses gain new powers

New laws to arm small businesses against unfair contracts that stop them raising money against unpaid invoices was laid before Parliament recently. Practitioners should take note as this may free up the availability of invoice financing for relevant clients. According to government sources, a small supplier’s contract with a larger... read more →

13 September 2018

Sep 07

Death and taxes

Mortality is a great leveller. It is a universal certainty that we will all pass at some future date and pretty much, that none of us wants that day to arrive. However, we tend to live in family groups and a certain amount of planning is required if we are... read more →

7 September 2018

Sep 07

Those were the days?

Not too many years ago, practitioners would be limbering up at this time of the year to meet the surge of the tax return submission that needed to be cleared before the forthcoming January deadline for self-assessment. And of course, there would be the usual round of support issues generated... read more →

7 September 2018

Aug 31

Business as usual?

As we are tugged ever closer to the Brexit deadline, 29 March 2019, its difficult to consider that there are other issues that we need to occupy ourselves, particularly if we are actively supporting business clients through these difficult times. Take Making Tax Digital for VAT as a prime example.... read more →

31 August 2018

Aug 30

Hard Brexit guidance issued by HMRC

Readers may be interested in comprehensive guidance recently issued by HMRC, just in case we fall over the hard Brexit cliff on 29 March 2019. The following commentary on the position of UK importers will be included in our printed news copy for our clients next month: Presently, the UK... read more →

30 August 2018

Aug 10

Still hiding assets offshore?

Are the days of hiding assets overseas still a working strategy to avoid UK tax? HMRC have recently warned taxpayers that they could face penalties if they fail to declare their income on foreign assets before the Requirement to Correct legislation comes into force. What is the “Requirement to Correct”... read more →

10 August 2018

Aug 09

The OTS launches more debate on tax change

In the last week the Office for Tax Simplification (OTS) issued a number of reports following consultations on various tax simplification issues. If their recommendations are subsequently followed by legislation, the changes will impact the work presently undertaken by tax advisors. The main topics covered, and the report links are... read more →

9 August 2018

Aug 03

Football agent scores expensive own goal

Informanagement has posted an article for clients this week that will interest football fans. It concerns a case that has been rumbling through the courts for some time, but the Upper Tribunal has now ruled in favour of HMRC. The case revolves around an individual who attempted to turn an... read more →

3 August 2018

Aug 02

Change facilitates opportunity?

Do you treat change with despair or does it trigger the itch to connect the change with opportunity? My online dictionary defines “change” as: Make or become different, take or use another instead, move from one to another, an act or process through which something becomes different. And defines “opportunity”... read more →

2 August 2018

Jul 26

Will networks provide some comfort post Brexit?

Is there a place for our LinkedIn groups to provide a network of support and ideas for business advisors and business owners post Brexit? We are all connected to some degree and there must be a wealth of ideas and strategies being developed to cope with events after March 2019.... read more →

26 July 2018

Jul 25

Future trade deals

The following announcement by the Department for International Trade caught our eye. It says: People across the UK will have their say on prospective new agreements with the USA, Australia, New Zealand and on the UK’s potential membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The 14-week consultations... read more →

25 July 2018

Jul 20

West Midlands funding initiative

Linked In members in the West Midlands will be interested to know that a new funding initiative has been launched. Businesses, young people and adults across the West Midlands are set to benefit from a new skills deal, which could unlock up to £69million. In their press release the Department... read more →

20 July 2018

Jul 19

Pay As You Go

Imagine that your customers paid you twice a year, in January and July. Let’s say that your accounts year is 31 March, and for the year ending 31 March 2018 you received 50% of your monies owed for this year in January 2018 and 50% July 2018 BUT based on... read more →

19 July 2018

Jul 13

England are out…

Whatever your opinion about football, unless you hibernate for the summer, you will have watched with varying degrees of interest as the England national football team made progress towards their first World Cup final since 1966. All that came to end on Wednesday evening when they failed to beat Croatia... read more →

13 July 2018

Jul 12

Losing your licence

Under present legislation, if you build up 12 or more penalty points for driving offences you will be disqualified from driving. The ban can last from 4 to possibly 11 years depending on the gravity of the offence. It is interesting to note that HMRC have now disclosed, in the... read more →

12 July 2018

Jul 09

Automatic entitlement?

HMRC issued a press release recently announcing that more than a million taxpayers eligible for the Marriage Allowance – available to basic rate married couples and civil partners who can transfer spare personal allowances up to a prescribed limit to their spouse or partner – had still not been claimed.... read more →

9 July 2018

Jul 06

Common sense prevails, what next?

Cohabitation does not presently advance access to the legal rights enjoyed by married couples or same-sex couples who have entered into a civil partnership. It would seem to be an anomaly that opposite sex couples, who may ideologically object to the institution of marriage, cannot formalise their relationship in law... read more →

6 July 2018

Jun 21

M&S lose VAT case

In their judgement the Court confirmed that M&S should have added VAT to their meal deal that promoted food plus a free bottle of wine for £10. Marks & Spencer changed their “Dine for £10” offer to include food and a free bottle of wine. They asserted that the supply... read more →

21 June 2018

Jun 19

MTD software suppliers

Practitioners will be well aware that VAT registered clients with turnover in excess of £85,000 will need to file returns using HMRC’s MTD links from April 2019. It is interesting, that with less than a year to go, only four software providers are listed as able to cope with the... read more →

19 June 2018

Jun 15

Thinking is no longer necessary?

Prior to the advent of computerised systems, it was necessary to understand not only what you had to do, but also why you had to do it. We are fast approaching a digital takeover of data processing. Soon, software will dictate when and what needs to be done, and when... read more →

15 June 2018

Jun 13

Construction to go into reverse?

We posted an update on our newsfeed this week, that if confirmed by legislation will have your contractor clients reaching for Asprin. The issue is the possible introduction of the VAT reverse charge to transactions between sub-contractors and their contractor customers. Apparently, HMRC are losing revenue as subcontractors are registering... read more →

13 June 2018

Jun 08

Can’t put up a deck chair?

That bastion of sun bathers, the deckchair, has a long pedigree. Chairs of this type were discovered in the tombs of ancient Egypt, and in 1886 a patent was taken out by John Moore, from Macclesfield, for the manufacture of adjustable, folding chairs. If true, John Moore may have been... read more →

8 June 2018

Jun 06

Cashing in dormant assets

One of the articles we are adding to our printed newsletter shortly covers the announcement by government that they are expanding the dormant assets scheme to include not only bank accounts but also stocks, shares, pensions or bonds. Under the current Dormant Accounts scheme, bank or building society accounts that... read more →

6 June 2018

May 17

Abiding by the rules

The directors of Curtiss Ltd were no doubt delighted as their turnover increased during 2016, from £700,000 2015 to £2.75m, 2016. They had had elected to submit a VAT return once a year, the VAT Annual Accounting Scheme, and flushed with their recent trading success, were a little tardy in... read more →

17 May 2018

May 15

Bank Holidays

Spring Bank Holiday 28 May 2018 Summer Bank Holiday 27 August 2018 Christmas Day 25 December 2018 Boxing Day 26 December 2018 New Year’s Day 1 January 2019 Good Friday 19 April 2019 Easter Monday 22 April 2019 Early May Bank Holiday 6 May 2019 Spring Bank Holiday 27 May... read more →

15 May 2018

May 14

Are we driven by deadlines?

Readers in practice will have sympathy with individuals who suffer from SAD – Seasonally Affected Disorder. The recent burst of good weather has been a real tonic for all of us, not only those who are inclined towards depression in the winter months. Accountants and tax advisors must experience similar... read more →

14 May 2018

May 05

Brexit pantomime

In a recent post on our blog we outlined an announcement by HMRC that they are scaling back their attempt to roll-out the Making Tax Digital process to individuals. Apparently, HMRC were expecting that the personal, online tax accounts being deployed would drastically reduce the number of calls that... read more →

5 May 2018

May 03

HMRC stumbles into Brexit wall

HMRC has announced that many of its expected digital changes will be delayed as staff are redeployed to deal with Brexit issues. This redeployment will affect the further rollout of “simple assessment”. In a nut-shell this was an attempt to take increasing numbers of individuals out of self-assessment by digitising... read more →

3 May 2018

Apr 27

Your inheritance

It doesn’t happen that often, perhaps once in most persons’ lifetime, but that expected, or unexpected inheritance is always welcome. Those of a certain age, who have benefitted from the extraordinary rise in property values since the late 1960s, are now approaching that time of life when the grim... read more →

27 April 2018

Apr 26

“Fishy” goings on

There was a time when you could rely on the sound of most words to mean one thing. Now, the internet age is making demands on language as well as our grey matter as we attempt to keep pace with its demands. Take, for example, the recent Companies House alert... read more →

26 April 2018

Apr 20

Congratulations to Companies House

The following announcement was posted to the Gov.uk website 18 April 2018: Companies House awarded Gold in Mind's Workplace Wellbeing Index We've been awarded the Gold standard at this year's Mind Workplace Wellbeing Index Awards for our commitment to staff and mental health. This year’s Mind Workplace Wellbeing Index Awards were... read more →

20 April 2018

Apr 19

Get discounted rates on your CPD with the ICAEW

Informanagement are supporting some ICAEW workshops this year. We are lucky enough to be able to offer you a discount code which you can use, if you would like to book in and attend, and save yourself 10% on the published price. You can even attend if you are not... read more →

19 April 2018

Apr 19

Regional drift

In recent article posted to our Informanagement news feed, we reported on surprising outcomes for home owners moving to a new house in the Wales/England or Scotland/England border areas. In certain circumstances the differences in stamp duty payable can be significant. For example: Consider Llanymynech, a village that straddles the... read more →

19 April 2018

Apr 13

Apr 12

EMIs, to be or not to be?

In an unparalleled act of incompetence, HMRC announced in their Employment – related securities bulletin No27 April 2018, That State Aid funding for projects set up after 6 April 2018 may not be forthcoming. To be clear, at present, this means that new EMI schemes set up after 6 April... read more →

12 April 2018

Apr 10

Happy New Year

No, I haven’t got my dates wrong, the 6 April is the start of the new tax year. Why the 6 April? This date was fixed in 1752. Prior to this date the UK had stayed with the Julian calendar rather than adopting the Gregorian calendar. By 1752,... read more →

10 April 2018

Apr 09

Sugar tax commenced 6 April 2018

According to a recent government press release, from last Friday, 6 April 2018, millions of children across the UK will benefit from the government’s key milestone in tackling childhood obesity, as the Soft Drinks Industry Levy comes into effect. The tax on soft drinks, commonly referred to as the ‘Sugar... read more →

9 April 2018

Mar 29

Why wouldn’t you?

HMRC have recently disclosed that Gift Aid provides the charity sector with £1.3bn of funding. They have also disclosed that the Treasury is willing to increase that support to almost £2bn. In this age of austerity, after all there is no magic money tree, this willingness to meet an additional... read more →

29 March 2018

Mar 29

Be careful that what you mean is what you say

Make sense of this conversation: Agitated client: “So how have I done this year?” Advisor: “Well, your ROI is down, and the bottom line is still positive but there is an issue with dividends.” Agitated client: “An issue? You said taking dividends was preferable to taking a salary? Was that... read more →

29 March 2018

Mar 25

Sir Ken gets the last laugh

I was intrigued by the press commentary this week following the death of the well-known, and long lived, comedian, Sir Ken Dodd. Apparently, he and his partner of some forty years, spliced the marital knot just days before he died. By doing this, Sir Ken kept his multi-million-pound estate... read more →

25 March 2018

Mar 22

MTD trial launched

If you have the time and the inclination, HMRC are inviting businesses to trial MTD from April 2018. According to a recent ICAEW post on this topic, if you want to take part, email Caroline.Miskin@icaew.com and she will forward your details to HMRC. The scope of the trial is going... read more →

22 March 2018

Mar 14

Be careful what you believe you are asking

One of our most viewed posts on LinkedIn recently was a short video that illustrated ambiguity. A young man responds to a window poster that says: “ACCOUNTANT WANTED. £35,000 - £40,000” He calls the number on the poster and with a straight face says: “You don’t need an accountant; the... read more →

14 March 2018

Mar 09

Offshore tax dodgers beware

Practitioners will no doubt be aware that from 1 October 2018 HMRC will be gaining access to information from so-called tax havens that will enable it to identify UK citizens with undisclosed offshore assets, and by inference, undisclosed UK income and taxable gains. There is a section on the Gov.uk... read more →

9 March 2018

Mar 08

New security measures for smart devices

In a move that will hopefully improve the cyber security of the myriad of smart devices that we all use; the government is applying pressure on manufacturers. In a recent press release they included a draft Code of Practice. It says: Draft Code of Practice: All IoT device passwords must... read more →

8 March 2018

Feb 27

Increase in compliance obligations 2018

There seems to be a pattern emerging this year that will no doubt add to the compliance and planning activity of accountants. For example: Planning for the start of MTD April 2019 and the need to digitise affected clients’ record keeping. The obligations to comply with the GDPR from 25... read more →

27 February 2018

Feb 26

Identity fraud

Apparently, fraudsters have been utilising data published by Companies House to hijack the identity of company directors and use it to make online transactions. This will be of concern to company directors who are presently required to provide their home address when registering as a director. They will welcome a... read more →

26 February 2018

Feb 16

Tax-free childcare

HMRC issued the following press notice this week: “Today (14 February 2018) Tax-Free Childcare opens to all remaining eligible families: parents whose youngest child is under 12. The new scheme helps working parents with the cost of childcare. It’s quick and easy to apply, and parents could save thousands of... read more →

16 February 2018

Feb 15

Coconuts?

Did you know that clients can now open a bank account that automatically summarises income and expenditures, and is mooted to be Making Tax Digital ready, with automatic downloads to the client’s digital account with HMRC? Are we about to witness the leaching of compliance activity, normally the remit of... read more →

15 February 2018

Feb 09

Carillion – Official Receiver’s update

According to the Official Receiver over 2,000 jobs have been saved. They comment: “We have continued to review Carillion’s contracts, as well as core divisions of the business, and I can confirm that we have safeguarded a further 1,221 jobs. These roles are connected to the delivery of both public... read more →

9 February 2018

Feb 08

Victim of past decisions?

Running a business is rather like flying an aircraft: set your course, altitude and cruising speed, switch on the autopilot, and turn your attention to other tasks. Obviously, pilots are reminded to take back control of the flying process otherwise landing would be a problem, but business owners may be... read more →

8 February 2018

Feb 02

Crossing the finish line

Last week we posted comments on the challenges practitioners will face in the coming year. This week, our thoughts are with tax practitioners as this week saw the end of their closing attempts to keep clients the right side of their self-assessment filing obligations for 2016-17. Sole practitioners, especially those... read more →

2 February 2018

Feb 01

OTS to simplify IHT?

Tax practitioners can look forward to a “simplification” of IHT according to a letter sent by Philip Hammond to the OTS recently. Here’s what he said: “I am writing to acknowledge the OTS’s recent interest in the Inheritance Tax regime. Inheritance Tax, and the system within which it operates, is... read more →

1 February 2018

Jan 26

Generating cash from penalties

According to an announcement published by HMRC 24 January: HM Revenue and Customs (HMRC) announced that just over 3 million customers are yet to complete their 2016 to 2017 returns with just under one week to go before the 31 January deadline. As of 24 January 2018 around 8 million... read more →

26 January 2018

Jan 24

A week to go

It would be interesting to poll practitioners offering tax advice to see if they have booked holidays in February. Links in nicely with half-term, and would provide a much-needed break after the traumas of supporting clients with their self-assessment filing obligations for 2016-17. Unfortunately, as we have posted previously on... read more →

24 January 2018

Jan 22

Evidence of a sense of humour

Practitioners who follow HMRC’s regular output of announcements may have come across the latest excuses for late or non-filing of a tax return. They include the classical: I couldn’t file my return on time as my wife has been seeing aliens and won’t let me enter the house. And for... read more →

22 January 2018

Jan 19

One plus one equals 3!

There has been commentary in the accounting press this week about a tribunal ruling that will be bitter sweet news for accountants. The case involved a self-assessment return that included a claim for foreign tax paid. Unfortunately, the tax software used by the advisor assumed a tax credit was available... read more →

19 January 2018

Jan 12

Staircase tax to be axed

We recently posted the following article to our news feed at Informanagement: The Government has announced that the business rates anomaly known as the ‘staircase tax’ is to be axed. The 'staircase tax' affects businesses that operate in adjoining units or rooms, but are accessed from a communal lift, corridor or... read more →

12 January 2018

Jan 11

The end is nigh, ring in the changes

Pretty soon, there will be few persons in the UK who can remember how to add up a column of figures in pre-decimal currency. Why would you? For the younger generation, rather than pounds and new pence, sterling was expressed as pounds shillings and old pence: 12 pence to a... read more →

11 January 2018

Jan 05

Happy New Year and beware gift card scam

You may want to communicate this announcement to your family and work colleagues, feel free to use our copy. A notice recently issued by HMRC says: HM Revenue and Customs (HMRC) is warning the public about a high-profile phone scam that is conning vulnerable and elderly people out of thousands... read more →

5 January 2018

Jan 04

New year chores

Very difficult for tax practitioners to consider wider options for 2018 when they are swept back into the self-assessment crazy season with a vengeance when they return from the Christmas break. Back to the relentless chore of chasing for information before the submission button can be pressed. Come 1 February,... read more →

4 January 2018

Dec 21

Dec 20

Tax just got more taxing

Practitioners that draw clients from north and south of the border between Scotland and England have our sympathies. From April 2018, the Scottish government intends to change its Income Tax rates and bands. They will change to the following: Earnings between £11,851 and £13,850 – taxed at 19% (starter rate)... read more →

20 December 2017

Dec 18

Is there anybody out there?

Tax practitioners will be girding loins to deal with the inevitable last lap of the 2016-17 self-assessment filing season. There are few firms who can boast that all clients’ returns are filed before the Christmas break. January remains, for most advisors, a high-pressure period; a time when staff and partners... read more →

18 December 2017

Dec 14

Carrot and stick

HMRC are proficient at the stick approach. We are obliged to comply with the rules, or else… This approach is embedded into legislation, and to some extent should be considered responsible for the tax gap – the difference between taxes due and taxes collected – and the black economy. What... read more →

14 December 2017

Dec 13

Customer?

Are we the only organisation who continues to be irritated when HMRC refer to us as a customer? It was some years ago that HMRC’s “Customer Services” department started plugging the phrase. The issue at the time was the lack of customer service, more to the point, the delays experienced... read more →

13 December 2017

Dec 12

The new budget timetable and the tax policy making process

Fingers crossed, the Treasury seem to have their ducks in a row. March 2018, will both be the beginning and end of a legislative process that impacts tax legislation for 2018-19 and 2019-20. The recent Autumn Statement has spawned the Finance Bill 2018 and it is intended that this receive... read more →

12 December 2017

Dec 07

Tax-free Christmas gifts for employees

Last month we posted an article setting out the limitations of the so-called “trivial gifts” exemption for employees. I have reproduced the text here as this might be a useful way to benefit a client’s employees for Christmas without incurring a tax charge. A reminder that since 6 April 2016,... read more →

7 December 2017

Dec 05

The Finance Bill (No.2) 2017 is published

Our editorial team are updating their source material for the Autumn Budget 2017. The following are a list of useful documents should you want to dig into the detail of the recent budget changes. A further 192 pages are being added to the UK tax code. For those keen to... read more →

5 December 2017

Nov 27

Are you any better off?

No doubt you have absorbed the essence of Philip Hammond’s autumn budget? A few bits and pieces that might increase your take home pay, and if you are a first-time house buyer, jubilation, no stamp duty to pay, unless you intend to live in London that is… There seems to... read more →

27 November 2017

Nov 23

The budget that never was

My guess is that practitioners will be underwhelmed by the budget announcements on 22 November. Perhaps we should consider the budget that never was? What have we narrowly avoided? In first place we should surely ruminate on the OTS’s proposal that the present VAT registration threshold is too high. At... read more →

23 November 2017

Nov 22

Will he, won’t he?

Phillip Hammond faces an unenviable task today when he delivers his next (and last?) budget to Parliament. All eyes will be on the detail. If he plays it safe and adopts a steady-as-you-go approach colleagues with larger ambitions will be stamping their feet anxious to promote the notion that it’s... read more →

22 November 2017

Nov 21

January deadlines

Did you know that HMRC have shifted the deadline to register new trusts with the Trust Registration Service (TRS)? A new trust is one that has incurred a liability to Income Tax or Capital Gains Tax for the first time during that tax year 2016-17. The date to register has... read more →

21 November 2017

Nov 13

Caveat emptor morphs into the Criminal Finances Act 2017

Caveat emptor, as many of you will know, means that a buyer alone is responsible for checking the quality and suitability of goods before a purchase is made. In other words, unless you are protected by warranties, the buyer takes the risk. The person(s) drafting the Criminal Finances Act 2017... read more →

13 November 2017

Nov 10

VAT to get a face lift?

The Office for Tax Simplification (OTS) has turned its attention to VAT. Their core recommendations as posted to the Gov.uk website this week are: the government should examine the current approach to the level and design of the VAT registration threshold, with a view to setting out a future direction... read more →

10 November 2017

Nov 07

Keeping up with changes?

Two announcements were made on the Gov.uk website last week. Both related to the progress of the delayed Finance Bill that started life in parliament March 2017, and was promptly truncated to accommodate the May 2017 election. The delayed provisions were reintroduced September 2017 and are now wending their way... read more →

7 November 2017

Nov 03

What’s in a name

Although Companies House regulate the issue of company names as part of the incorporation process, there is no formal Registrar of Business Names. In fact, one of the ways in which it is suggested, on the GOV.UK website, that firms protect a trading name for their company, is the register... read more →

3 November 2017

Oct 30

Can you have too much information?

Frankly, yes in my opinion. I speculate that the world shows up as more complex not only because it is becoming more complex, but also because of the increasing speed at which the information is communicated. Which is why I favour the bullet point, drill down process. None of us... read more →

30 October 2017

Oct 27

So simple

It is interesting to reflect on the use of words, particularly adjectives, and how the usage has changed. In many contexts, simple is used in a derogatory way, to describe something that lacks intelligence or sophistication. Alternatively, simple is used to describe an idea as elegant, stripped of unnecessary baggage.... read more →

27 October 2017

Oct 25

Joining up the dots

I was talking with a practitioner recently, who described in detail how she solved what sounded like a quite complex tax issue for a client. The outcome was more than appreciated by the client who paid their bill, unusually, within seven days. At the end of the recollection the practitioner... read more →

25 October 2017

Oct 23

Privacy

Senior practitioners that I have spoken to advise me that things were quite different in the good old days. For example, prior to the introduction of self-assessment, and the widespread use of computers, HMRC kept information about a taxpayer’s affairs in a paper file. Accordingly, a meaningful conversation about a... read more →

23 October 2017

Oct 16

Any ideas?

There is a circular statement that is often used to describe a state of self-awareness, it goes something like this: It is not what you know that you don’t know that catches you out, it’s what you don’t know that you don’t know… Considering this conundrum almost always has the... read more →

16 October 2017

Oct 11

Oct 09

The annual bash

Many readers may be turning their attention to the organisation of the Christmas “do”. This week, Informanagement posted an article setting out the tax boundaries, how much you can spend and stay within the current tax exemptions. The article is reproduced here: In a recent newsletter we looked at the... read more →

9 October 2017

Oct 06

Tax evasion

HMRC issued a press release this week: Stop facilitating tax evasion or face criminal prosecution… The comments were seemingly targeted at corporations: It is already a crime to evade tax, or deliberately help another person to do so, but on behalf of the majority of taxpayers who pay what is... read more →

6 October 2017

Oct 02

Referral requests

2 October 2017

Sep 28

Lawmakers and advisors?

Has anyone else noticed the increasing presence of HMRC’s advisory activities. The most recent is a new service focused on helping mid-sized businesses as they expand and grow. It was launched by HMRC last week. Apparently, there are 170,000 mid-sized businesses registered in the UK. These businesses, with a turnover... read more →

28 September 2017

Sep 24

Do you give away free advice?

There is a temptation when speaking with clients to confuse information with advice. A client may open-up over a pint or glass of wine, telling you about a problem that they may have. The problem may be one that you have dealt with many times before, with other clients, and... read more →

24 September 2017

Sep 21

Problem, catastrophe or opportunity?

Three elements to this week’s blog: Problem - a situation, person, or thing that needs attention and needs to be dealt with or Catastrophe - a situation, person, or thing that needs attention and needs to be dealt with or Opportunity - an occasion or situation that makes it possible to do something that you want to do or must do, or the possibility of doing something. Perhaps we could also throw in a cliché at... read more →

21 September 2017

Sep 19

Staff considerations

Do you keep your staff in a back room, well away from clients, or do they have access to clients, and therefore influence over clients’ appreciation of their tax or business affairs? Have you ever wondered what your staff are saying to clients? Clients no doubt quiz them, given half... read more →

19 September 2017

Sep 16

Sep 07

First past the post

How often have you had a light bulb moment – suddenly, one plus one is two – and you have rushed to inform the person that will best appreciate your eureka moment, only to be met with the universal put-down “I already knew that!” Nothing worse. The light bulb shatters... read more →

7 September 2017

Sep 05

Big is better?

I was interested to follow a thread last week, discussing the virtues of the £1m practice. There seemed to be a consensus that there were benefits to being a million-pound practice: not least, the notion that you would have a ready source of funding for your pension pot when you... read more →

5 September 2017

Sep 04

Keeping in touch

Is it realistic to expect that all the information you send to clients is going to hit the spot? Probably not, but does that really matter? There are at least two sides to the keeping in touch coin: communicating information that may be useful, and reminding clients that you are... read more →

4 September 2017

Sep 01

HMRC slow down

HMRC have made the most extraordinary declaration. They are no longer going to provide agents with certain information regarding the tax affairs of their clients via the agents’ help line. They have said (23 August 2017): "We will not provide agents with: pay and tax information. If your clients do... read more →

1 September 2017

Aug 30

Jack of all trades

Whilst this expression does not truly reflect the status of sole practitioners and partners in smaller practices – after all, they don’t claim expertise in other trades – it does flag up a competitive disadvantage that small firms can face and who cannot offer the specialist services provided by larger... read more →

30 August 2017

Aug 24

Aug 23

The flip side of tax adjustments

I was interested to note a recent article that flagged up the disallowance of VAT input tax if a supplier’s unpaid bill was more than six months old. This would seem to be the flip side of VAT bad debt relief, that output tax paid to HMRC, on invoices that... read more →

23 August 2017

Aug 19

Hourly based profit trap

There is a continuing trend towards the setting of fixed fees for work done. This trend seems to offer win-win outcomes for clients and for practitioners as fees are agreed in advance removing the need for log-winded explanations of why fees are higher than expected. There are issues. For example,... read more →

19 August 2017

Aug 18

Aug 14

Timing is everything

Tax practitioners invest considerable resources in keeping themselves, their clients and staff abreast of tax changes. There are obvious and sound reasons for doing this. How can you offer clients best advice if you don’t keep up-to-date? And how can clients advise you of changes in their circumstances if they... read more →

14 August 2017

Aug 02

Time for an annual cull?

Most practitioners will be aware of the 80:20 rule, many may not know that this describes the Pareto Principle: originally, the observation that 80% of Italy’s wealth belonged to only 20% of the population. As a generality, you may find that 20% (or thereabouts) of your clients provide 80% of... read more →

2 August 2017

Jul 28

Gov.uk vs Google

We are informed that GOV.UK is undergoing a refit. The powers that be are restructuring the information by theme rather than by the departments or organisations that have contributed to the content. They intend to have the work finished by 2020. Apparently, it is currently easier to Google search terms... read more →

28 July 2017

Jul 27

Implied confusion

Directors are generally considered to be office holders, they are considered to have different rights and responsibilities to employees and are classed as office holders for tax and NIC purposes. Why is this important? Office holders do not qualify for the NMW or NLW. And a good job... read more →

27 July 2017

Jul 21

Now you see it, now you don’t!

During his first Budget presentation Philip Hammond shocked us all when he said that it would be his last, and quickly followed on by explaining that in future there would be no spring budgets and that he would move the fiscal announcements to the autumn so any changes could be... read more →

21 July 2017

Jul 20

Jul 13

Are your clients lost in a tax maze?

I am not an accountant, but I spend an awful lot of time talking with accountants. As an outsider, I’d like to offer an insight, it’s not exactly a trade secret… Accountants seem to fall into two camps when discussing tax matters with clients: Those who embrace and use the... read more →

13 July 2017

Jul 12

Ranger’s EBT kicked into touch

The final death knell of the Employee Benefit Trust was sounded last week, when the Supreme Court dismissed the appeal by Glasgow Rangers, thus ending the long running saga that has progressed through the lower courts. The EBT scheme had sought to have “remuneration” for players directed into a... read more →

12 July 2017

Jul 04

More changes afoot

When oh when are the powers that be going to stop messing with the tax system? Trying to advise clients on tax issues is rather like walking up a down escalator, there is a desperate need to get to the top, but the general direction of travel is down. And... read more →

4 July 2017

Jun 30

Jun 28

What would getting ready for Brexit look like?

The temptation, of course, is to trot out a list of hyperbole. This would range from the doom and gloom variety to everything is going to be wonderful. Pragmatism would suggest an outcome somewhere between these polarised goal posts. From an accountant’s view point, does Brexit open up new avenues... read more →

28 June 2017

Jun 26

Keeping ahead of the game

We are making progress updating our InforLearning tutorials for changes thus far in new legislation. This process will continue during the summer and then at the end of year as new Finance Bills and then Acts of Parliament reach the statute books. Aside from these fiscal issues, there are the... read more →

26 June 2017

Jun 22

No mention of a new Finance Bill

The Queen’s speech yesterday did not seem to include much about fiscal policy making. In the published “What it means for you” policy document, section 2.5 headed, National Insurance Contributions Bill says: The Bill will legislate for National Insurance contributions (NICs) changes announced at previous fiscal events (Budget 2016 and... read more →

22 June 2017

Jun 16

Life goes on, sort of

Ironically, at a time when progress and resolution are far from certainties, there has never been a more urgent need to keep your clients informed. Uncertainties are powerful and negative drivers and should be kept at bay. This week, our news updates for practitioners’ clients and prospects continue to advise... read more →

16 June 2017

Jun 15

What a surprise

Although forecasts of a hung parliament were being bandied about prior to last week’s election, there was an assumption that the Conservatives would at least hang onto their slender majority, no such luck. The rather unfortunate slogan, strong and stable government, trotted out ad nauseum at the beginning of the... read more →

15 June 2017

Jun 09

Be prepared

Now we know the outcome of the election yesterday, we are about to face a deluge of tax changes and our clients, staff, and more importantly our business prospects, will be on the lookout for guidance. They will not have the time, or the inclination, to wade through acres of... read more →

9 June 2017

Jun 07

Calm before what?

This article is being written just 24 hours before the election. Pollsters are predicting a range of results: from a hung parliament to a comfortable Conservative majority. Much hangs on this result. Leaving aside the Brexit negotiations, exactly what changes are we about to face from a tax point of... read more →

7 June 2017

Jun 02

Information overload

In an effort to cope with the ever increasing complexity of our tax code, practitioners required to deal with more complex issues, have tended to specialise. Of necessity, this fragmentation tends to occur in larger practices where larger clients are willing to accept the higher fees charged for specialist advice.... read more →

2 June 2017

Jun 01

Data management

Rumour has it that HMRC are beavering away with the development of Making Tax Digital systems while under purdah. Accounts and tax software developers are getting to grips with government API links – under MTD, access to clients’ personal tax accounts will only be available via these links – and... read more →

1 June 2017

May 26

Prospecting

Prospecting, as any small scale gold miner will testify, is a process that demands persistence. Wandering down to your sluice or riverbed once a week to pan for the yellow stuff, is unlikely to grow your bank account. In a similar vein, visiting a prospect once and then hoping for... read more →

26 May 2017

May 24

Are we seeing the end of vocation?

Suitability or worthiness are obviously key ingredients when considering the appointment of staff, but as we move ever closer to full employment, how likely is it that staff will develop a sense of vocation? Feedback from practitioners would seem to suggest that our younger recruits are keen to embrace the... read more →

24 May 2017

May 19

How often do you touch base with clients?

Smaller clients would no doubt be suspicious if you started calling them once a week to “see how they are”. Perhaps their concerns would be focussed on the size of your next bill if it included telephone-time? Larger clients may have a different reaction, after all, they count on you... read more →

19 May 2017

May 18

SA tax payments due again

Your self-employed clients will no doubt be viewing the settlement of the approaching second payment on account for 2016-17 with the usual lack of enthusiasm, on the basis that is, that they are aware of taxes falling due? This will include practitioners that have resisted incorporation thus far… It would... read more →

18 May 2017

May 15

Making Tax Digital – true or false?

Last week I touched on “Election hiatus” and its effects on delayed legislation. I am intrigued by the range of commentary posted by practitioners on various forums regarding the likelihood that MTD will not be reappearing in legislation after the June election? We do know that HMRC are continuing with... read more →

15 May 2017

May 13

The Criminal Finances Act 2017

The new Act received Royal Assent on 27 April 2017. The Home Office summary of changes includes the following announcement published on the same day. The Criminal Finances Act 2017 will give law enforcement agencies and partners, further capabilities and powers to recover the proceeds of crime, tackle money laundering,... read more →

13 May 2017

May 09

Election hiatus

Civil servants have been instructed by their political masters to keep stum – remain silent throughout the current national election process. But that doesn’t mean they are entirely inactive. HMRC have recently, 3 May, uploaded a bunch of self-assessment help sheets for 2017-18. These are worth using as source material... read more →

9 May 2017

May 04

Blowing of trumpets

Empathy is defined as – the ability to understand and share the feelings of another. In a therapeutic situation this is quite a useful skill, and one that should be honed if you truly want to understand what is going on across the other side of the table. This is... read more →

4 May 2017

Apr 25

Keeping ahead of the game

How often do your staff have access to information that updates their current tax knowledge? Is it at an annual two-day training jolly; a bi-monthly half day lecture; or an occasional dip into web-based tutorials? Is the maxim, a little and often, of more value than its counterpart? My company... read more →

25 April 2017

Apr 25

Back to the future

We set a test for Google yesterday. Does it still retain access to long forgotten aspects of the UK tax system? We started with Stock Relief. Stock Relief was introduced by Mr Healey on the 12th November 1974, his third budget that year. Basically, it allowed companies to deduct from... read more →

25 April 2017

Apr 19

The value of leverage

Is it possible to amplify an action such that the initial message is automatically sent out through multiple platforms? If there is one unique selling point of social media, this is it: that you can create one message and link the distribution to a variety of users – Facebook, Twitter,... read more →

19 April 2017

Apr 18

The Marriage Allowance

The Marriage Allowance (MA) is a prime example of the government’s veiled largesse – yes, you can claim the allowance, but we won’t tell you to claim. The MA is targeted at couples where one partner in the marriage or civil partnership has spare personal allowance – income less than... read more →

18 April 2017

Apr 12

Acronyms and filing requirements reach a new high point at HMRC

MTDfB? Muddled Thinking Defined following Brexit? Or closer, Making Tax Defendable follows Budget. As we all know, it actually means Making Tax Digital for Business, or more accurately, the government’s latest idea for tax assessment by transferring responsibility from HMRC to business. Nevertheless, MTDfB will happen. We are past the... read more →

12 April 2017

Apr 11

MTDfB reporting

MTDfB reporting On a recent posting to their agent blog, HMRC invited agents to recruit clients for their MTDfB try-out. They said: “From April we’ll start our live pilot of the changes with businesses and agents. We’ll start with small numbers but aim to have hundreds of thousands of small... read more →

11 April 2017

Apr 04

The social media maze, where do you start?

No doubt you have been eulogised by media companies who believe you are underachieving in your use of social media? Recent presidential appointments seem to have been won and lost on social media, and less worthy organisations are winning wars by skilful use of Twitter. Many firms have a Facebook... read more →

4 April 2017

Mar 31

Just in case you had forgotten!

A reminder that promoters of tax avoidance schemes cannot circumvent the POTAS regime by re-organising their business so that they either share control of a promoting business or put a person or persons between themselves and the promoting business. Apparently, this will ensure HMRC can apply the POTAS regime as intended when introduced. Legislation... read more →

31 March 2017

Mar 27

What is relevant?

Ever considered what your clients perceive to be relevant? I’m thinking in terms of the information, news, that you send clients. It is fine to cover the generic bases, for example my company distributes tax update material, and clients respond to this, you are covering their backs, keeping an eye... read more →

27 March 2017

Mar 23

Pre-register for tax-free childcare

Time to send out a missive to our clients with small children? From 22 March, parents can pre-register for the government’s new childcare offers, with the launch of a new Childcare Choices government https://www.childcarechoices.gov.uk/ . In their launch press release the government say: The introduction of the government’s Tax-Free Childcare scheme... read more →

23 March 2017

Mar 16

To be or not to be?

It appears that in Chancellor Philip Hammond’s case, and the saga of the proposed increase in Class 4 NIC from April 2018, the answer is not to be. The increases have breached the Conservative Party manifesto pledges and are therefore non-starters. His attempt to close the NIC contributions gap, between... read more →

16 March 2017

Mar 15

Did we have a Budget?

We may have experienced the presentation of one of the shortest Finance Bills on record. Indeed, most of the content bedded-in previously announced changes. We were informed that the Making Tax Digital filing threshold is to remain at £10,000, but unincorporated businesses with turnover below the current VAT registration limit... read more →

15 March 2017

Mar 08

No news is good news, unless you happen to be an accountant

Changes in tax legislation and practice is the grist to our mills. It is the changing face of legislation that powers new service development for professionals to deliver to clients. We are in a constant battle to stay one step ahead of these changes. It does not serve our reputation... read more →

8 March 2017

Mar 06

Autumn budgets make sense

Let’s hope that Philip Hammond has a few more “simplification” changes up his sleeve. The abolition of the March budget is a sensible reform. It allows for discussion and amendments to Finance Bills in good time for their implementation on the following 6 April. More importantly, the budget will be... read more →

6 March 2017

Mar 01

How would you define social media?

Google defines social media as “websites and applications that enable users to create and share content or to participate in social networking”. Compare this with the definition of media as “the collective communication outlets or tools that are used to store and deliver information or data to a large number... read more →

1 March 2017

Feb 28

When was the last time you sacked a client?

Many of us hang-on to client relationships beyond their useful sell-buy date. There is an addiction to the process of growing client lists and gross recurring fees. We hate sacking clients, but we love winning new clients. Examining “D” list clients can be a salutary process, assuming, of course, that... read more →

28 February 2017

Feb 22

What is the cost of sending an email?

How long is a piece of string springs to mind? According to recently published information written by industry pundits the cost of sending an email is less than a third of one pence (£0.003). A second class stamp is £0.55 and you would also need to factor in the cost... read more →

22 February 2017

Feb 22

HMRC abandon Verify in favour of “souped-up” Gateway

Readers might be interested to know that HMRC has decided against the idea of using the Government Digital Service (GDS) developed Gov.uk Verify identity assurance platform, and will instead only use its own identity service – the Government Gateway. Mike Howes, HMRC’s Programme Director, has posted the following blog, explaining... read more →

22 February 2017

Feb 17

Have you tried 20 questions with your staff recently?

How up-to-date are staff that have access to your clients, and, that may be asked probing questions on tax matters? Will they have the necessary knowledge, and if not, what do they do? Plead ignorance and try to change the subject? At the very least, clients should be reassured that... read more →

17 February 2017

Feb 16

Surviving the more for less culture

In some respects, Making Tax Digital opens up a whole raft of new compliance activity for accountants: business owners will be challenged by the quarterly filing process and will possibly be dismayed by HMRC’s reaction at their attempts at compliance. What is more, these quarterly underplayed uploads will start to... read more →

16 February 2017

Feb 09

HMRC pressing on with Making Tax Digital

On the last day of January 2017, HMRC published its response to their 2016 consultation on Making Tax Digital (MTD). Two aspects stand out for attention: The commencement date for the self-employed is still April 2018, and Although HMRC acknowledge the £10,000 de minimis income limit had received considerable comment... read more →

9 February 2017

Feb 07

Familiar is good

There is no point in badgering clients with too much information, but there are well-proven benefits to reassurance. At this time of the year, approaching 5 April 2017, you will no doubt be working with clients to ensure that their tax position for 2016-17 has been reviewed and any necessary... read more →

7 February 2017

Feb 03

Time for a spot of navel gazing?

Much of the activity undertaken by professional practices is driven by the need to meet filing deadlines. In the trade we call this compliance work. Whilst this is a useful service to the business community, it will always be seen as an activity that is required by the powers that... read more →

3 February 2017

Jan 19

Making tax a nonsense

Imagine that you run a part-time consultancy business that brings in £11,000 profit, it’s your only earnings for 2015-16. You happily access your portal login, that you have finally mastered, and in a few minutes your tax return is filed and there’s no tax to pay. You are subsequently advised... read more →

19 January 2017

Jan 13

If at first….

A practitioner recently shared the following altercation between himself and a very nice person on the HMRC helpline, when attempting to reconcile a client’s annual statement with his practice, tax software. There was a small difference, just £40, in the amount HMRC calculated was due and the amount he had... read more →

13 January 2017

Jan 05

New penalties for enablers of offshore tax evasion came in to effect last Sunday

A reminder for practitioners that the new sanctions applied to so-called enablers of off-shore tax evasion came in to effect on 1 January 2017. We have reproduced below an extract of the recent announcement published by HMRC. The announcement by HMRC includes information about further legislation being contemplated later this... read more →

5 January 2017

Dec 27

Out with the old, in with the different…

What a year. During 2016, the status quo has taken quite a drubbing, primarily Brexit and the unexpected election result in the United States. How this will affect the UK economy remains an unknown. Watch this space. We have a two dates for our diaries: 8 March 2017 the spring... read more →

27 December 2016

Dec 16

Personal tax account is one-year-old

Doesn’t time fly? HMRC have been quick to declare that the Personal Tax Account (PTA) had its first birthday on the 14 December 2016. They said: The Personal Tax Account marks its first birthday today, 14 December, and in that time, it has already revolutionised the way customers interact with... read more →

16 December 2016

Dec 07

Draft provisions for the Finance Bill 2017 are published

For those of you who are interested in this level of detail, the technical consultation on the measures for the Finance Bill 2017 were published on 6 December 2016. They include: Overview of the legislation in draft Draft provisions for the Finance Bill 2017 Draft explanatory notes for the Finance... read more →

7 December 2016

Dec 04

Budget date scrabble

Members of Parliament of all political persuasions took a sharp intake of breath when Phillip Hammond reached the end of his Autumn Statement presentation last week. Here’s what he said: This is my first Autumn Statement as Chancellor. After careful consideration, and detailed discussion with the Prime Minister, I have... read more →

4 December 2016

Nov 10

Professional conduct in relation to taxation (PCRT)

A new and updated version of this professional guidance document in relation to tax advice was issued jointly by the major supervisory bodies. The guidance has been prepared jointly by the: • Association of Accounting Technicians • Association of Chartered Certified Accountants • Association of Taxation Technicians • Chartered Institute... read more →

10 November 2016

Nov 03

Coping with change

We are not sure that the French expression “plus ca change” – the more it changes the more it is the same – applies to UK’s tax code. During the next two years there are a number of changes in the pipeline that will transform (and perhaps not for the... read more →

3 November 2016

Oct 28

Working together…

Working Together is a partnership between HMRC and tax agents (and their representative professional bodies). Its stated purpose and main objectives are to: improve communications between HMRC and tax agents identify and clarify widespread issues which can be escalated in real time help HMRC focus on the best way to... read more →

28 October 2016

Oct 21

Where is the UK economy headed?

We are all waiting to see what effects Brexit will have on the UK economy. Recent, generalised stats issued by our government seem to promote the idea that it’s “steady as you go” progress. However, with the pound under increasing downward pressure against other currencies the increased costs of imported... read more →

21 October 2016

Oct 14

Updated rateable values

Advisors might like to note that the Valuation Office Agency (VOA) has recently issued confirmation that the draft, business rateable values for 2017-18 are now available to view on the www.gov.uk website. The url to check changes is https://www.gov.uk/correct-your-business-rates. The facility was uploaded 30 September 2016, and anyone in England... read more →

14 October 2016

Oct 11

Pen Pushers

This rather derogatory term – pen pushers – is defined in the Cambridge dictionary as “a person who has an office job that is not interesting”. Of course, clerical work now involves very little pen pushing; rather, office jobs require button pushing. It would be interesting to research how much... read more →

11 October 2016

Sep 30

Required bedtime reading!

HMRC have published a series of consultations during August 2016 that all relate to the so-called Making Tax Digital (MTD). Certain pundits are already signalling that MTD is as significant a change as self-assessment. The titles and links of the consultation documents are set out below: Making Tax Digital for... read more →

30 September 2016

Sep 27

The naughty step…

HMRC have their own version of the naughty step: the published list of deliberate tax defaulters. The list was updated 12 September. Top of the class is a property management and import-exporter of food. The penalties charged amounted to a staggering £723,333. Naming and shaming has been a part of... read more →

27 September 2016

Sep 07

Financial Secretary Jane Ellison addresses the HMRC Annual Conference

It looks as if the new incumbents are picking up the “Making tax digital” baton. The following are extracts from a speech by Jane Ellison to the HMRC Annual Conference; did you get an invite? It is these three priorities – making sure tax is fair, paid and competitive –... read more →

7 September 2016

Aug 29

Roll up the beach mats…

As the holiday season draws to a close, and as parents look forward to the start of a new school year, what are likely to be the issues that practitioners will need to focus on in the coming months? Obviously, we are now half-way through the electronic filing window for... read more →

29 August 2016

Aug 20

Tax avoidance enablers to face tough new penalties

Accountants, tax planners and advisers who provide advice on how to avoid tax will face tough penalties under new proposals being consulted on by the government, Financial Secretary to the Treasury Jane Ellison announced today. Under the plans set out in an HMRC consultation document issued today, enablers of tax... read more →

20 August 2016

Aug 12

Information underload

As our company name implies, we supply and manage the dissemination of information; in particular, information and updates on UK tax matters. Although, in contradiction to the title of this posting, we all suffer to some degree from information overload, in spite of this, in many respects we are much... read more →

12 August 2016

Aug 05

Holiday stand-by

This is the time of the year when industry used to shut down for the obligatory summer holiday break. Workers were obliged to take the same time off as factories were re-set to tick over mode. Not so now. Now the summer is a lottery, most businesses stay open, but... read more →

5 August 2016

Jul 29

How can we help?

What do your staff say when they pick up the office phone? Do your staff take initial calls or does a pre-recorded message invite your caller to make a selection? Many practices are keen to minimise the time taken by staff in answering calls, and with good reason, fee earners... read more →

29 July 2016

Jul 14

All change but no change

The profession must now point its radar in the direction of Philip Hammond, the newly appointed Chancellor of the Exchequer. Goodbye Mr Osborne… He has already confirmed that there will be no emergency budget, phew, and he will make an Autumn Statement in the usual way later this year. Accordingly,... read more →

14 July 2016

Jul 08

The side nearest the window?

Double entry bookkeeping was first devised by Muslim civilisations circa AD 624. The first fully documented European ledgers are those of a Florentine merchant at the end of the 13th century. The process has been in use for some time! Left hand columns are the preserve of the “debits” and... read more →

8 July 2016

Jul 01

Turbulent times ahead?

Whichever side of the in or out of EU debate you supported, you will all be ticking off the expected consequences that were predicted. - Turbulence in the exchange markets, although sterling has returned to the same dollar rate as earlier this year. - Turbulence in the equity market, although... read more →

1 July 2016

Jun 22

More on filing and control conditions for PSCs

At the beginning of June, we posted an article drawing readers attention to the new requirement to build a “Persons with significant control” register – needs to be done before 30 June 2016 for existing companies and LLPs. We have listed below two further reflections on control condition 4 which... read more →

22 June 2016

Jun 15

iTunes gift card scam – beware

iTunes gift card scam If you want evidence of the depths humanity will sink, you could do worse than read about the latest HMRC scam. The following report is taken from the National Fraud & Cyber Crime Reporting Centre (Action Fraud) website: Action Fraud is warning people of a new... read more →

15 June 2016

Jun 10

Anyone seen the abacus?

Apparently, the first recorded use of this counting frame was approximately 2700BC. Imagine using this to work out the tax payable on a variety of income sources subject to numerous other variables. Difficult… The first computers that had any commercial punch started to appear in the late 1960s. They could... read more →

10 June 2016

Jun 01

People with significant control

No doubt you are familiar with the new “People with significant control” filing requirements? You may have noticed that failure to comply with the new regulations is a criminal offence: fines or up to two years at Her Majesty’s pleasure. In addition to these penalties, if a potential PSC refuses... read more →

1 June 2016

May 27

In or out?

June 23rd is the day we decide “Remain” or “Brexit”, whether to stay in or leave the EU. Leaving aside the political and economic considerations, what impact will this referendum have on the UK accountancy profession? If we stay in it will be business as usual. The existing legal frameworks,... read more →

27 May 2016

May 18

Allowance or tax credit?

Have you noticed the trend that is converting tax allowances into tax credits? When George first shared his “generous” £5,000 dividend allowance with the House of Commons, many of us assumed that it was an allowance, a deduction from income. What it turned out to be was a £5,000, zero... read more →

18 May 2016

May 11

Redefining tax compliance for the digital age

If HMRC follow through and are successful in implementing digital accounts for all tax payers what future is there for tax practitioners who prepare their clients’ tax returns? The scope of the changes that will be completed before the end of the current parliament are wide ranging. David Gauke’s forward... read more →

11 May 2016

May 05

Seeing the tree for the wood

Advisors depend on information to provide the advice they give to clients. Without new information there is the obvious risk that the strategies presented to clients will be ineffective, the goal posts may have moved. Professionals are trained to filter out the good stuff, the nuggets of new ideas that... read more →

5 May 2016

Apr 25

Dispensations ditched

HMRC have published the ever popular Expenses and benefits guide 480 for 2016-17. From April 2016, the benefits rules apply to directors and employees alike, with no exemption for the previous £8,500 rule. As a consequence, all dispensations issued in the past, to exempt declaration of certain “benefits” will no... read more →

25 April 2016

Apr 21

The Panama Papers

Now that the initial fuss has died down, what is the likely outcome of these revelations? So far it seems that politicians have fared the worst. Did the Icelandic Prime Minister resign or did he just step aside, whatever that means? HMRC have applied for a look-see. They have even... read more →

21 April 2016

Apr 20

Digital dithering

Consider this announcement by HMRC in their prophetic, and very stylish brochure entitled “Making tax easier: The end of the tax return.” David Gauke comments: “As part of the Government’s vision to modernise the tax system, tax returns will be replaced by digital tax accounts for millions of individuals and... read more →

20 April 2016

Apr 06

Happy new year!

2015-16 is history. Actions that needed to be taken before the 6 April 2016 are now safely completed (?) and we have a whole new raft of legislation to consider. Following hard on the heels of the new dividend taxation regime, the new Finance Bill has confirmed that treating any... read more →

6 April 2016

Apr 05

New tax year is almost upon us!

Many of our legal colleagues have been burning the midnight oil over the Easter holidays, frantically completing purchases of buy-to-let residential properties and second homes before the three percentage points increases in SDLT apply from 1 April 2016. Shades of the 31 January deadline accountants face each year… As there... read more →

5 April 2016

Mar 24

Turbulent times

The Budget has received its first vote of acceptance in the Commons this week. Albeit, with the withdrawal of cuts to disabled benefits. No doubt Mr Osborne and his Treasury mandarins will turn their mind to the £4bn short fall this will leave? Most practitioners’ clients will welcome the reduction... read more →

24 March 2016

Mar 19

A largely unnoticed 30% tax increase in the Budget this week

One item that may have passed you by this week is cryptically described as “Corporation Tax: rate of tax for the loans to participators charge” in the Budget Policy papers. The change represents a 30% increase in the rate of corporation tax applied to loans to participators that remain unpaid... read more →

19 March 2016

Mar 10

OTS spotlight on small companies!

This week the Office for Tax Simplification issued a Small company taxation review. One aspect of the review is challenging, especially for one-man companies that distribute all the profit as either salaries or dividends. Topics covered include: Streamlined, joined up registration and reporting processes, including between Companies House and HMRC.... read more →

10 March 2016

Mar 03

What to expect on the 16th?

Apart from the pre-published clauses for the upcoming budget, what else can we look forward to? George does seem to be off-track in paying down debt and making progress towards a balanced budget. If he continues to let the multi-nationals drag UK earnings offshore, without contributing to the UK tax... read more →

3 March 2016

Feb 26

Incorporate

The goal posts have moved. How are accountants going to advise clients about the merits of retaining a self-employed status or incorporating their businesses? From April 2016, the new dividend tax will chip away at the tax savings that could previously be obtained from incorporating, taking a minimal salary (to... read more →

26 February 2016

Feb 18

What’s new on the Google deal?

HMRC have taken the unprecedented step of commenting on their recent deal to settle outstanding tax liabilities with Google. The negative reaction from the UK press has obviously caught them off-guard. Here’s a short extract of their comments on “sweetheart” deals in general, and the Google case in particular. ‘Sweetheart... read more →

18 February 2016

Feb 15

Accounting standards – the FRS shift

Hands up… Who has read FRS 102? 384 pages of scintillating reading, or not? But, practitioners will need to come to terms with the recent move away from the UK GAAP and the transition to the new financial reporting standards that now apply. For most practitioners, FRS 102 will be... read more →

15 February 2016

Feb 05

Acronyms

Consider this conversation between two rather earnest accountants: “I suspect that I will need to report this to the MLRO, drastic I know, but needs must…” “Are you sure you have your facts straight? Surely your client has a valid claim for WTA, and what he’s suggesting is a basic... read more →

5 February 2016

Jan 30

New year’s resolution

Many practitioners will have been too busy, embroiled in the impending SA filing deadline activities, to have given too much thought to new year resolutions. Now that the deadline is almost upon us (for most of you reading this it will no doubt be over), what about setting resolutions for... read more →

30 January 2016

Jan 22

All our yesterdays

The self assessment filing cycle for 2015 ends next week. For over twenty years this ground rush of activity has plagued professional activity (and made January one of the best billing months of the year). Can you remember the advent of Self Assessment? The legal framework was first introduced by... read more →

22 January 2016

Jan 15

Will someone stop the merry-go-round?

Although, for most practitioners, January is brilliant month for invoicing, it comes at a heavy cost. Many smaller accountants are required to burn the midnight oil in order to ensure as many client’s tax returns as possible are filed before the 31st. Leaving aside the issue of charging higher rates... read more →

15 January 2016

Jan 07

Cash is king?

The Bank of England reported in their Q3 Quarterly Bulletin that for spontaneous payments (for goods and services purchased at the point of sale, for example from retailers either face to face, online or by telephone), 52% of the volume of payments are made in cash and this represents a... read more →

7 January 2016

Dec 09

Draft clauses for the Finance Bill 2016 due out today

The 9th December may not seem an auspicious date but embattled practitioners across the UK will be keeping a weather eye open today as the Treasury publish the draft clauses for the Finance Bill 2016. Much, of course, is in the public domain already: • Changes to dividend tax •... read more →

9 December 2015

Nov 04

How does a secure internet connection work?

We have all noticed the HTTP and HTTPS prefixes to website addresses, but what exactly do they mean? The acronyms stand for Hyper Text Transfer Protocol and it is the agreed format of messages between servers that allows us to access websites. According to the technical review on Wikipedia: HTTP... read more →

4 November 2015

Nov 04

Back to shopping bags?

Unless you were trading in the days before computers were in common usage, you will not remember the shelves in your office stacked with shopping bags: in the main client’s record keeping consisted of dumping bank statements and receipts in a plastic bag. The diligent few used manual record systems,... read more →

4 November 2015

Oct 23

Use the content

What do you do with the tax updates we provide? Obviously, they have an update purpose, all your staff should read and take note, but what about your clients and prospects? How long is it since you added new names to your newsletter distributions lists? In some respects sending out... read more →

23 October 2015

Oct 14

Client centred training

Why do we invest in keeping staff skills up to date? Obviously, it makes a contribution to securing a solid base of qualified staff, and it fulfils our training and CPD obligations. But on its own staff training is of no practical use to a firm if it fails to... read more →

14 October 2015

Oct 14

Resourcing for planned growth

For most practitioners that started out in their back bedroom, the long road to an office with numerous staff, complaining clients and constant interruptions from email and the phone, will be filled with mixed feelings. Fairly early on in the process it becomes evident that having too much or too... read more →

14 October 2015

Oct 14

That time of the year

You can almost hear the collective sigh from professional firms as they face up to the count down – 123 days to 31 January 2016: to the filing deadline for the 2015 SA returns. Every year, the same old chestnuts appear on our lists “records not in yet”. Despite various... read more →

14 October 2015

Sep 25

Simplify your language and improve comms with your clients

Accountants speak their own private language: CGT, liquidity ratios, GAAP, breakeven points et al. It is interesting to consider how much more effectively we could communicate if we filtered out the jargon when talking, especially with clients. For example, you could say: Let’s consider the possible advantages if we could... read more →

25 September 2015

Sep 17

Oil and water – the perils of mergers

On the face of it, two firms merging should give the partners from both firms a chance to reduce fixed costs: cram everyone into one office, savings on IT costs and etc. And of course neither firm will want to shed staff? The aim will be to grow the top... read more →

17 September 2015

Sep 15

Promoters of tax avoidance schemes (POTAS) or a tax advisor?

If you are concerned that you may be involved in the promotion of tax avoidance schemes, in particular that you may be subject to the Promoters of Tax Avoidance Schemes (POTAS) legislation, HMRC have recently updated their guidance on this topic at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/454865/POTAS.pdf The document runs to 114 pages and... read more →

15 September 2015

Sep 05

Labour costs and productivity

It seems pretty clear that if more output can be produced for a fixed period of labour input, then productivity will have increased. British productivity is currently 28% lower than in France, 29% lower than in Germany and 30% behind the US. These are significant numbers. Although we tend to... read more →

5 September 2015

Sep 02

Timing is everything

In a recent tax case, David Keyl v HMRC, decided in the Upper Tribunal, the advisors acting for the appellant were unable to reverse a previous FTT decision. The facts of the case were as follows: David Keyl ran a sole tradership which he transferred to a limited company on... read more →

2 September 2015

Aug 20

Dividend strategy – back to the drawing board

HMRC published a policy paper entitled “Dividend Allowance factsheet” 17 August 2015. It can be downloaded at https://www.gov.uk/government/publications/dividend-allowance-factsheet The introduction on the GOV.uk website is a bit lightweight: “From April 2016 a new tax-free Dividend Allowance will replace the Dividend Tax Credit. Headline rates of dividend tax are also changing.... read more →

20 August 2015

Aug 14

What nuggets are archived in your filing system?

Of course, most practices these days have an electronic document filing system. Beats a room full of filing cabinets. If you switch on the higher level search facilities try searching for the phrase “Inheritance Tax” and see what results you get? For Inheritance Tax you could substitute any words that... read more →

14 August 2015

Aug 14

You can’t please all the people…

The following quote is attributed to the poet John Lydgate and later adapted by President Lincoln: “You can please some of the people all of the time, you can please all of the people some of the time, but you can’t please all of the people all of the time”.... read more →

14 August 2015

Aug 14

Strengthening sanctions for tax avoidance

HMRC has published a consultation document entitled: Strengthening sanctions for tax avoidance – A consultation on detailed proposals. It was released 22 July 2015 and the closing date for comments is 14 October 2015. Legislation to enact the issues discussed will be introduced in the Finance Bill 2016. The scope... read more →

14 August 2015

Aug 14

Finance Bill makes slow progress

The Summer Budget 2015 has now morphed into the Summer Finance Bill, officially known as the Finance Bill 2015-16. It has already completed the first and second reading and when parliament reconvenes after the summer recess it will move forward to the committee stage 8 September 2015. After the committee... read more →

14 August 2015

Jul 15

Summer Budget – opportunity to develop and cross-sell services

George Osborne opened the debate last week on the tax changes outlined in his Summer Budget. Many of the changes will not affect taxpayers until after the 1st or 5th April next year. Indeed, he set out his stall for progressive changes across a number of taxes until the end... read more →

15 July 2015

Jul 03

Supreme Court endorses new tax-free childcare plans

Just in case you have missed the legal challenges made to rein back the new tax-free child care plans, the government (Wednesday 1 July) welcomed a judgment from the Supreme Court that found the government’s proposals for delivering Tax-Free Childcare to be clearly lawful. It also confirmed that, as a... read more →

3 July 2015

Jun 25

HMRC’s digital progress

It would seem that HMRC are stepping up their plans to digitise their interactions with tax payers. We have reproduced below a posting to HMRC’s blog (they have a blog!) by Mike Potter, Digital Services, entitled: Digital HMRC: a snapshot of what's in the pipeline “As all know if you’re... read more →

25 June 2015

Jun 17

Which side of the border?

In previous blogs in this series we have discussed the potential for complicating the tax affairs of individuals who live and work in the border counties of England and Scotland. In the past week, two very interesting matters have been publicised regarding the impact of SRIT – the Scottish rate... read more →

17 June 2015

Jun 12

Pensions Auto-enrolment staging dates

If clients were set up in business on or before 1 April 2012 they should be monitoring their staging date: the date on which automatic enrolment duties apply from. To do this, the client’s PAYE reference can be entered on the Pensions Regulator website at http://www.thepensionsregulator.gov.uk/employers/staging-date.aspx If you already provide... read more →

12 June 2015

Jun 03

Take a look at your competition

Most businesses that search online for business or tax advice will type in their local area and a word like “accountants” and see what comes up on the search engines lists. Contrary to popular opinion, not all visitors start at page one – internet users are savvy to the paid... read more →

3 June 2015

May 21

How do you train your staff?

Would your staff recognise an opportunity to cross-sell more services to clients? In some respects, your staff should be effective ambassadors for your practice. They should be able to spot billing opportunities with their eyes closed, but unless you have struck lucky, you will have to train them to be... read more →

21 May 2015

May 21

The power of 20

Did you know? 20 is the smallest primitive abundant number. 20 can be written as the sum of three Fibonacci numbers: 13+5+2. 20/20 can mean that Specsavers will never make any money from you. 20 is the optimum number of quarter or half turns required to solve a Rubik cube... read more →

21 May 2015

May 15

Pensions auto enrolment – increase billable fees?

Now that the dust has settled and we have our new government, perhaps it’s time to take a fresh look at pensions’ automatic enrolment. In particular, is this going to be an area where accounting professionals can step in and guide their clients through the process, or is it best left... read more →

15 May 2015

May 08

Post General Election 2015 – Business as usual?

Much to the surprise of the pollsters, David Cameron has led the Conservative Party to a majority result in yesterday’s election. What will this mean for the profession? More of the same? Certainly the sections of the recent Finance Bill that were deferred due to the impending election (this includes... read more →

8 May 2015

May 01

Purdah

The term “purdah” is in use across central and local government to describe the period of time immediately before elections or referendums when specific restrictions on the activity of civil servants are in place. The term ‘pre-election period’ is also used. For general elections in the past this period commenced... read more →

1 May 2015

Apr 22

Accountex here we come…

If you are an accountant, and most of our customers are, are you coming to the Accountex conference this year? Accountex 2015 is open for business at ExCeL London 13-14 May, and this year, we will be there. Look out for us at stand A71 outside the Tax Theatre. Whether... read more →

22 April 2015

Apr 15

Summary of tax changes 2015-16

HMRC have published a list of the various corporate and personal tax changes that became operative from the 1st or 6 April 2015. To save you time in browsing for the information we have reproduced the two lists below. The following tax changes came into effect Wednesday 1 April 2015:... read more →

15 April 2015

Apr 10

Competition

Keeping up to date with tax in the UK is a remorseless task. Readers of this blog are likely subscribing to Informanagement’s weekly tax updates. To make the most of the information provided what about setting a monthly challenge to your staff? Ask them to read the weekly tax updates... read more →

10 April 2015

Apr 10

Bring on the changes

In what seems a rare feat for parliament, last week saw the grant of Royal Assent to the Finance Bill No2 2015, or as it will now be known, the Finance Act 2015. In less than three weeks legislators have driven the Finance Bill through a short cut process and we... read more →

10 April 2015

Mar 24

The new self assessment, a throw back?

We all await the details of the proposed changes to self assessment outlined in the Budget. Apparently, from as soon as April next year, individuals and small businesses will no longer be required to submit SA returns. Instead, these taxpayers will be set up with digital accounts, pre-populated with data... read more →

24 March 2015

Mar 16

Leverage

You can apply the principles of leverage to the provision of professional services. For example. A client requests that you take a look at her personal assets position in order to minimise inheritance tax when she dies. You undertake the research and link up with a trust lawyer to provide... read more →

16 March 2015

Mar 05

What’s an open question?

Which of the following statements is true? 1. The business community wants to know what services you offer. 2. The business community is on the lookout for someone to solve their problems. Truthfully, both are accurate statements, but the second is far more powerful in a sales situation. For example, if a... read more →

5 March 2015

Feb 25

Time to start lobbying

The Chief Secretary to the Treasury, Danny Alexander, was quoted on the Andrew Marr show a few days ago as saying that companies that help clients evade tax should face the same penalties as the tax evaders. Oh dear... Although this latest round of tax dodger pursuit was triggered by... read more →

25 February 2015

Feb 23

Carrot or stick?

Imagine how you might feel if HMRC sent you an M & S voucher if you filed your tax return on time? Or offered you a discount if you paid your tax early? We live in a penalised rather that an incentivised society. Pay up, do this or else! But... read more →

23 February 2015

Feb 12

Property fraud

Following a pilot, a counter-fraud security measure has been introduced by Land Registry for companies who own registered property and are concerned it might be subject to a fraudulent sale or mortgage. A similar facility is available to individuals to register up to ten properties. Why would a property owner... read more →

12 February 2015

Feb 05

Your inbox, friend or foe?

Almost everyone in business that uses email has issues with their Inbox. Complaints vary, but essentially, it appears that we all become the victim of communications that we would rather not have: loosely described as spam. If you’d asked accountants in the 1960’s if they were suffering from spam their... read more →

5 February 2015

Jan 28

Staff – return on investment

If your staff seem reluctant to promote your practice to clients and prospects send them a link to this blog and follow up with a staff meeting focussed on this topic. Why is marketing activity critical to practice development? Most fish will not jump out of the water and take... read more →

28 January 2015

Jan 28

Two tins and a piece of string

Before email, what did we do before email? Way back, those readers over 50 will probably remember, kids used to link two empty cans with a piece of string to talk to each other. Now of course, technology has moved on: the youth of today use mobile phones, iPads and... read more →

28 January 2015

Jan 28

A poor excuse

The dictionary definition of an “excuse” (used as a noun) is: a reason or explanation given to justify a fault or offence. HMRC have just published the top ten excuses for late filing. Unsurprisingly, they all failed to impress... Many of the excuses claim it was someone else’s fault –... read more →

28 January 2015

Dec 18

Twelve ideas for 2015

Following on from last week’s blog posting, we thought we’d enlighten you about another “Christmas factoid” that may crop up during family entertainments over the Christmas holiday. The Twelve Days of Christmas is one of the best known English carols. The song was first published in England in 1780 without... read more →

18 December 2014

Dec 10

Why the 5th April?

Just in case this question comes up for you over Christmas: Trivial Pursuits? Here’s why we have our tax year for income tax purposes set as the 5th April. According to HMRC the reason for the tax year running from 6 April to 5 April is primarily historical and has... read more →

10 December 2014

Dec 04

Autumn review – D-Day 3/4 December 2014

A number of the proposals set out in the Autumn Statement, 3 December 2014, are effective from the 3rd or 4th December 2014. Take a look at the list below that includes details of the taxes affected. Food for thought as many of these changes will affect clients now. Stamp... read more →

4 December 2014

Nov 28

Scotland’s income tax devolution

The Smith Commission is apparently to move Scotland closer to fiscal independence by recommending that it be given full control to set income tax rates and bands. Their report, due to be published today, is expected to confirm that the amount of the tax free personal allowance is not to... read more →

28 November 2014

Nov 24

Our wish list

On the 3rd December George will step up to the plate and deliver his last Autumn Statement before the next general election (May 2015). What will he say? No doubt a controlled mix of thrift and pre-election give-a-ways? Here’s a few of our ideas for tax changes next year. We... read more →

24 November 2014

Nov 12

Do your clients know about this ruling?

In a recent Employment Tribunal case the previous regulations for the way in which holiday pay is calculated has been changed. The law in the UK relating to overtime payments forming part of holiday pay has been strongly against workers since 2004 when the courts, in the case of Bamsey... read more →

12 November 2014

Nov 07

Leverage

Do you ever consider the benefits of leverage when you are looking for ways to increase fees? Consider this example: A client, Joe Smith, approaches you to advise on IHT planning – he is wealthy – personal assets exceed £5m. After researching his family’s options you create a strategy that... read more →

7 November 2014

Oct 29

Incentive or punishment?

The carrot or stick approach distinguishes strategies that are perceived to be an incentive, or those that appear to be a punishment. Also, a carrot and a stick are quite different: who wants to eat a stick? What if you employ a single strategy that could be seen to be... read more →

29 October 2014

Oct 22

Eyes and ears

How many clients’ affairs do you personally manage? 100,200, 300? In an average working day with how many clients do you actively converse? 2, 5, 10? Do you try and touch base with all your clients on a regular basis? And why would you do that? Let’s take a look... read more →

22 October 2014

Oct 15

Referrals, passive or active?

If you do a reasonable job for clients from time to time they will refer you to other businesses who will eventually, become your clients. Ask practitioners how they market their practice, and in the majority of cases they will say they have no formal marketing processes as they get... read more →

15 October 2014

Oct 13

Information as a marketing tool

When you provide information to your clients or business prospects as part of your regular news updates, some of the content will be especially relevant. For example, an article in the newsfeed about the availability of the Annual Investment Allowance will be pertinent for clients that are considering a significant... read more →

13 October 2014

Oct 07

Cameron’s tax pledge

David Cameron pledged to trim income tax by £7bn in his address to the Conservative Party conference this week. To achieve this he wants to increase the basic personal allowance to £12,500 and increase the income threshold at which earners pay income tax at 40%, to £50,000. On the face... read more →

7 October 2014

Sep 25

The shadow economy

Last year the Institute of Economic Affairs (IEA) published a report entitled The Shadow Economy. They estimated that the shadow economy amounted to over £150bn in 2012 – and has no doubt increased since that time. In producing the report the authors admit that: “Measurement of the shadow economy is... read more →

25 September 2014

Sep 18

Scottish referendum – voting today

Polls open at 7am today, Thursday 18 September, and close at 10pm tonight. It is estimated that the possible four million Scottish votes will be counted, and the results declared by 7.30am tomorrow, although it may be much later in the day before the final outcome is known. How will... read more →

18 September 2014

Sep 11

Any good ideas?

You have probably picked up on the announcement last week that the last Autumn Statement from this Government, prior to the 2015 general election, has been set for 3 December 2014. This will be no doubt be used to showcase the fiscal changes that George Osborne would like to promote... read more →

11 September 2014

Sep 05

Are you client centred?

Client centred has almost become a cliché in the profession, we all claim to be client centred but what exactly do we mean? A client centred therapy is essentially a therapy where the client is facilitated to discover their own solutions – in effect the therapist keeps out of the... read more →

5 September 2014

Aug 28

Business record checks up 60%

According to fee protection specialists PFP HMRC’s Business Record Checks programme is running at its highest level since it began in 2011, with the number of checks increasing by 60% from 3,431 (2011/12) to 5,515 (2013/14). Ironically, 73% of businesses visited were found to have adequate records. PFP further stated... read more →

28 August 2014

Aug 21

Unrealistic expectations?

In a recent newsletter article we highlighted extracts from HMRC’s “Your Charter”: this sets out a taxpayer’s rights and obligations in their dealings with HMRC. In a nut shell they are: Your rights - What you can expect from us: 1. Respect you 2. Help and support you to get things right... read more →

21 August 2014

Aug 13

OTS plenty of good ideas but no teeth?

The Office of Tax Simplification (OTS) has just posted the following on its blog: “Now that the 2014 Finance Act has received Royal Assent, we have updated our list of tax reliefs, which we last published in October 2010. The spreadsheet sets out all the reliefs, including those that have... read more →

13 August 2014

Aug 06

Automatic enrolment: large employers are all in

The Pensions Regulator issued the following announcement on 17 July 2014: “The national roll out of automatic enrolment has reached a landmark with all of the country’s largest businesses now having passed their staging dates. The Pensions Regulator’s automatic enrolment: commentary and analysis report 2013-14, published today, shows that 99%... read more →

6 August 2014

Jul 29

Exciting new product just launched! – File & Sign

File & Sign - the only platform you need to share and sign documents with clients! Do you have problems getting clients to sign documents and forms? Are you wasting time getting clients to drop by the office and bring documents to you? Are you and your clients using an... read more →

29 July 2014

Jul 25

What did Parliament intend?

We are constantly reminded that legislation is required to counter abusive tax arrangements designed to secure tax advantages that Parliament did not intend. There is an implied circularity about this assertion, as presumably the DOTAS, GAAR and other counter abuse rules will, in themselves, invite further, ingenious schemes to counter... read more →

25 July 2014

Jan 01

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1 January 1970

17Sep

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